Fulton Bank N.A. Sells 990 Shares of Dover Co. (NYSE:DOV)

Fulton Bank N.A. lowered its stake in shares of Dover Co. (NYSE:DOV) by 28.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,464 shares of the industrial products company’s stock after selling 990 shares during the period. Fulton Bank N.A.’s holdings in Dover were worth $445,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in DOV. Franklin Resources Inc. grew its holdings in shares of Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Dover by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock valued at $219,778,000 after buying an additional 140,089 shares during the period. Wellington Management Group LLP raised its stake in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after buying an additional 414,481 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Dover by 15.9% during the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after acquiring an additional 157,614 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 0.3 %

DOV traded down $0.56 during trading on Wednesday, hitting $173.92. The company had a trading volume of 236,275 shares, compared to its average volume of 1,011,622. The company has a market capitalization of $23.90 billion, a PE ratio of 16.76, a PEG ratio of 2.13 and a beta of 1.22. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The firm’s 50-day moving average price is $180.73 and its 200 day moving average price is $174.48. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

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

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, August 30th. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

DOV has been the subject of several recent research reports. Wells Fargo & Company increased their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Mizuho boosted their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Company Profile

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.