LRI Investments LLC Invests $27,000 in Dover Co. (NYSE:DOV)

LRI Investments LLC purchased a new position in shares of Dover Co. (NYSE:DOV) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 150 shares of the industrial products company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Oak Thistle LLC acquired a new position in Dover in the 4th quarter valued at $330,000. Trust Point Inc. bought a new stake in shares of Dover during the 4th quarter valued at $292,000. Ballentine Partners LLC acquired a new stake in shares of Dover during the 4th quarter worth $246,000. Finally, Arizona State Retirement System increased its position in shares of Dover by 0.8% in the fourth quarter. Arizona State Retirement System now owns 38,443 shares of the industrial products company’s stock worth $5,913,000 after purchasing an additional 289 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV opened at $175.50 on Friday. The business has a 50-day moving average of $181.14 and a 200-day moving average of $173.71. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

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

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.60%.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on DOV. Oppenheimer boosted their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Citigroup lifted their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

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.