Bar Harbor Wealth Management Sells 74 Shares of Dover Co. (NYSE:DOV)

Bar Harbor Wealth Management cut its position in Dover Co. (NYSE:DOV) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,435 shares of the industrial products company’s stock after selling 74 shares during the quarter. Bar Harbor Wealth Management’s holdings in Dover were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BSW Wealth Partners grew its position in Dover by 1.2% in the 1st quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 59 shares during the period. Summit Trail Advisors LLC increased its position in shares of Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 60 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position 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 purchasing an additional 62 shares during the last quarter. Legacy Financial Advisors Inc. grew its stake in Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares during the period. Finally, CWM LLC increased its position in shares of Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 0.8 %

Shares of DOV traded up $1.39 on Friday, reaching $180.36. The stock had a trading volume of 468,141 shares, compared to its average volume of 993,599. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a 50-day simple moving average of $180.03 and a 200-day simple moving average of $175.42. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

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

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DOV shares. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective 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. Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price 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. 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 MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate 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.