GAMMA Investing LLC Has $127,000 Stake in Dover Co. (NYSE:DOV)

GAMMA Investing LLC grew its holdings in Dover Co. (NYSE:DOV) by 51.0% during the second quarter, Holdings Channel.com reports. The firm owned 702 shares of the industrial products company’s stock after buying an additional 237 shares during the period. GAMMA Investing LLC’s holdings in Dover were worth $127,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. BSW Wealth Partners increased its holdings in Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after buying an additional 59 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after buying an additional 60 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after buying an additional 62 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after buying an additional 63 shares during the last quarter. Finally, CWM LLC increased its holdings in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 1.0 %

DOV opened at $174.48 on Wednesday. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 2.13 and a beta of 1.22. The business has a 50 day moving average of $180.73 and a 200-day moving average of $174.48.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the business earned $2.05 earnings per share. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dover Co. will post 9.15 earnings per share for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. Dover’s dividend payout ratio is currently 19.60%.

Analyst Ratings Changes

A number of research firms recently commented on DOV. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Mizuho upped 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. Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Activity

In related news, 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 value of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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.