V Square Quantitative Management LLC Raises Stock Holdings in Dover Co. (NYSE:DOV)

V Square Quantitative Management LLC grew its stake in Dover Co. (NYSE:DOV) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,057 shares of the industrial products company’s stock after buying an additional 119 shares during the quarter. V Square Quantitative Management LLC’s holdings in Dover were worth $552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Dover during the fourth quarter valued at approximately $8,311,000. Bleakley Financial Group LLC boosted its stake in Dover by 32.0% during the fourth quarter. Bleakley Financial Group LLC now owns 3,777 shares of the industrial products company’s stock valued at $581,000 after buying an additional 915 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Dover by 61.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,562 shares of the industrial products company’s stock valued at $394,000 after buying an additional 977 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Dover by 9.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 39,016 shares of the industrial products company’s stock valued at $6,001,000 after buying an additional 3,477 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in Dover by 58.0% during the fourth quarter. Cerity Partners LLC now owns 42,575 shares of the industrial products company’s stock valued at $6,549,000 after buying an additional 15,623 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

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

Dover Stock Down 0.1 %

Shares of NYSE:DOV traded down $0.23 during trading on Wednesday, reaching $176.42. The stock had a trading volume of 238,737 shares, compared to its average volume of 997,723. The company has a market capitalization of $24.25 billion, a P/E ratio of 16.95, a PEG ratio of 2.13 and a beta of 1.22. 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 firm’s 50-day simple moving average is $180.10 and its 200 day simple moving average is $175.39. Dover Co. has a one year low of $127.25 and a one year high of $192.31.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis 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 19.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOV. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Barclays increased their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.