Sumitomo Life Insurance Co. Acquires 168 Shares of Dover Co. (NYSE:DOV)

by · The Markets Daily

Sumitomo Life Insurance Co. raised its holdings in shares of Dover Co. (NYSE:DOV – Free Report) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,224 shares of the industrial products company’s stock after purchasing an additional 168 shares during the period. Sumitomo Life Insurance Co.’s holdings in Dover were worth $1,193,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. LRI Investments LLC bought a new position in Dover during the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of 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 acquiring an additional 176 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Dover in the 2nd quarter worth about $34,000. Transcendent Capital Group LLC boosted its stake in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Dover during the 2nd quarter valued at about $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

Dover Stock Up 0.8 %

Dover stock opened at $192.79 on Thursday. Dover Co. has a one year low of $127.25 and a one year high of $194.75. The stock has a fifty day moving average of $184.85 and a 200 day moving average of $181.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The stock has a market cap of $26.50 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share 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 analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. 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 yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Analyst Ratings Changes

Several research analysts have issued reports on DOV shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.25.

Read Our Latest Stock Analysis on Dover

Dover Profile

(Free Report)

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.

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