WealthPLAN Partners LLC Invests $2.65 Million in Dover Co. (NYSE:DOV)

WealthPLAN Partners LLC purchased a new position in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,658 shares of the industrial products company’s stock, valued at approximately $2,645,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Dover during the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its position in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Transcendent Capital Group LLC grew its stake in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Dover in the 2nd quarter worth about $41,000. Finally, North Star Investment Management Corp. increased its position in Dover by 93.0% in 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 last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the 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 sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Dover Trading Up 0.9 %

Shares of DOV stock opened at $186.77 on Tuesday. The business’s 50 day moving average is $181.14 and its two-hundred day moving average is $179.00. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The company has a market cap of $25.67 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last announced 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. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the firm posted $2.05 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts predict that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

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

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent research reports. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Mizuho increased their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Company 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.