TRUE Private Wealth Advisors Purchases New Shares in Dover Corp (NYSE:DOV)

TRUE Private Wealth Advisors purchased a new stake in shares of Dover Corp (NYSE:DOV) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 703 shares of the industrial products company’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Unigestion Holding SA boosted its stake in Dover by 1.4% during the 2nd quarter. Unigestion Holding SA now owns 7,463 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 104 shares during the last quarter. Parallel Advisors LLC boosted its stake in Dover by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 1,368 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 117 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Dover by 0.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 15,172 shares of the industrial products company’s stock valued at $1,423,000 after acquiring an additional 128 shares during the last quarter. Hartford Investment Management Co. boosted its stake in Dover by 0.7% during the 2nd quarter. Hartford Investment Management Co. now owns 18,420 shares of the industrial products company’s stock valued at $1,846,000 after acquiring an additional 128 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Dover by 9.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,600 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 136 shares during the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on DOV. Citigroup set a $114.00 price objective on shares of Dover and gave the company a “buy” rating in a research note on Friday, July 19th. Morgan Stanley raised their price target on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Wednesday, April 24th. Barclays raised their price target on shares of Dover from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Dover presently has a consensus rating of “Hold” and an average target price of $98.76.



In related news, insider Jay L. Kloosterboer sold 15,416 shares of Dover stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $98.00, for a total value of $1,510,768.00. Following the sale, the insider now directly owns 24,425 shares in the company, valued at approximately $2,393,650. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP William Spurgeon sold 20,049 shares of Dover stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares in the company, valued at $521,232.32. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Shares of Dover stock traded up $1.93 during trading hours on Friday, reaching $90.93. The company’s stock had a trading volume of 15,810 shares, compared to its average volume of 988,478. The company’s 50 day simple moving average is $97.09 and its 200 day simple moving average is $94.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.34. Dover Corp has a one year low of $65.83 and a one year high of $103.47. The stock has a market cap of $13.28 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.36 and a beta of 1.48.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.01. Dover had a net margin of 8.50% and a return on equity of 29.22%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that Dover Corp will post 5.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.49 dividend. The ex-dividend date is Thursday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 2.16%. Dover’s dividend payout ratio (DPR) is currently 38.63%.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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