Benedict Financial Advisors Inc. Trims Stock Position in Dover Co. (NYSE:DOV)

Benedict Financial Advisors Inc. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,157 shares of the industrial products company’s stock after selling 443 shares during the period. Benedict Financial Advisors Inc.’s holdings in Dover were worth $3,637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOV. Searle & CO. lifted its position in shares of Dover by 10.1% in the second quarter. Searle & CO. now owns 1,652 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 152 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Dover in the 2nd quarter valued at about $1,641,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Dover by 6.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,772 shares of the industrial products company’s stock valued at $3,748,000 after purchasing an additional 1,195 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Dover by 3.6% during the 2nd quarter. iA Global Asset Management Inc. now owns 3,872 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 135 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Dover by 2.5% during the second quarter. Signaturefd LLC now owns 3,788 shares of the industrial products company’s stock worth $683,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were 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 of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’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 in the company, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. In the last three months, insiders sold 30,565 shares of company stock valued at $5,576,733. Corporate insiders own 1.30% of the company’s stock.

Dover Trading Up 1.9 %

DOV traded up $3.53 during trading on Friday, hitting $186.03. 1,631,907 shares of the company’s stock were exchanged, compared to its average volume of 975,561. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The stock has a 50 day moving average price of $180.50 and a 200 day moving average price of $177.33. The firm has a market cap of $25.57 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company posted $2.05 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that Dover Co. will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, August 30th. Dover’s payout ratio is presently 19.79%.

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.