Dover Co. (NYSE:DOV) Shares Acquired by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its position in shares of Dover Co. (NYSE:DOV) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,350 shares of the industrial products company’s stock after acquiring an additional 236 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Dover were worth $424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Dover during the first quarter worth about $28,000. AdvisorNet Financial Inc grew its position in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after buying an additional 188 shares during the period. Transcendent Capital Group LLC grew its position in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the period. Northwest Financial Advisors acquired a new position in Dover during the fourth quarter worth about $36,000. Finally, North Star Investment Management Corp. grew its position in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after buying an additional 120 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 1.0 %

DOV stock traded up $1.74 during midday trading on Tuesday, hitting $174.48. The stock had a trading volume of 1,017,429 shares, compared to its average volume of 1,016,706. The firm has a market cap of $23.98 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The company’s 50-day moving average price is $180.91 and its 200 day moving average price is $174.29.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. On average, equities research analysts predict that Dover Co. will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.60%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Mizuho upped their target price on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer upped their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Citigroup increased their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada increased their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.