Waterway Wealth Management LLC Has $302,000 Stake in Dover Co. (NYSE:DOV)

Waterway Wealth Management LLC raised its stake in shares of Dover Co. (NYSE:DOV) by 21.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,572 shares of the industrial products company’s stock after buying an additional 282 shares during the period. Waterway Wealth Management LLC’s holdings in Dover were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. LRI Investments LLC purchased a new position in shares of Dover in the 1st quarter worth approximately $28,000. McClarren Financial Advisors Inc. lifted its stake in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new position in Dover in the second quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Dover in the second quarter valued at approximately $41,000. Finally, Transcendent Capital Group LLC lifted its stake in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOV shares. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Mizuho boosted their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Stock Performance

NYSE DOV opened at $192.68 on Tuesday. The company has a 50-day simple moving average of $185.58 and a two-hundred day simple moving average of $181.78. 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 Co. has a 12-month low of $127.25 and a 12-month high of $195.68. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.20 and a beta of 1.22.

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, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio is currently 19.79%.

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.