Rhumbline Advisers Buys 18,284 Shares of Dover Co. (NYSE:DOV)

Rhumbline Advisers grew its stake in Dover Co. (NYSE:DOVGet Rating) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 267,115 shares of the industrial products company’s stock after purchasing an additional 18,284 shares during the quarter. Rhumbline Advisers’ holdings in Dover were worth $32,406,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its holdings in shares of Dover by 0.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,354 shares of the industrial products company’s stock valued at $1,625,000 after acquiring an additional 80 shares in the last quarter. Kinneret Advisory LLC grew its holdings in Dover by 2.2% during the second quarter. Kinneret Advisory LLC now owns 3,795 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 80 shares during the period. MAI Capital Management grew its holdings in Dover by 2.4% during the first quarter. MAI Capital Management now owns 3,500 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 82 shares during the period. Glenview Trust Co grew its holdings in Dover by 1.0% during the second quarter. Glenview Trust Co now owns 8,852 shares of the industrial products company’s stock worth $1,074,000 after purchasing an additional 84 shares during the period. Finally, Pittenger & Anderson Inc. grew its holdings in Dover by 0.3% during the second quarter. Pittenger & Anderson Inc. now owns 34,549 shares of the industrial products company’s stock worth $4,191,000 after purchasing an additional 87 shares during the period. Institutional investors own 83.96% of the company’s stock.

Insider Buying and Selling

In other Dover news, VP Anthony K. Kosinski sold 2,203 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $126.18, for a total value of $277,974.54. Following the completion of the sale, the vice president now directly owns 5,353 shares of the company’s stock, valued at approximately $675,441.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on DOV shares. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Friday, November 4th. Citigroup reduced their price target on Dover from $156.00 to $149.00 in a report on Monday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Dover from $132.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, October 13th. Morgan Stanley cut their price objective on shares of Dover from $139.00 to $138.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th. Finally, Mizuho cut their price objective on shares of Dover from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $147.09.

Dover Stock Up 0.4 %

NYSE DOV opened at $142.76 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.68 and a debt-to-equity ratio of 0.71. Dover Co. has a 1-year low of $114.49 and a 1-year high of $184.04. The company has a 50 day moving average of $127.31 and a 200-day moving average of $128.29. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.20 and a beta of 1.35.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 13.93% and a return on equity of 27.62%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. On average, equities research analysts expect that Dover Co. will post 8.44 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.505 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.02 annualized dividend and a dividend yield of 1.41%. Dover’s dividend payout ratio is currently 25.09%.

Dover Company Profile

(Get Rating)

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

Further Reading

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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