Dover Co. (NYSE:DOV) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its position in shares of Dover Co. (NYSE:DOV) by 11.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,861 shares of the industrial products company’s stock after selling 2,913 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Dover were worth $3,945,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Dover during the 1st quarter worth approximately $28,000. McClarren Financial Advisors Inc. increased its position in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover in the 2nd quarter valued at $41,000. Transcendent Capital Group LLC lifted its holdings in shares of Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Dover by 93.0% during the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV opened at $186.77 on Tuesday. The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.17 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $181.14 and its two-hundred day moving average is $179.00. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for 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%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Mizuho raised their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 over the last three months. 1.30% of the stock is owned by insiders.

Dover Profile

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.