SeaCrest Wealth Management LLC Buys New Shares in Dover Co. (NYSE:DOV)

SeaCrest Wealth Management LLC bought a new stake in Dover Co. (NYSE:DOV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,416 shares of the industrial products company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in Dover by 27.4% in the first quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock valued at $29,451,000 after purchasing an additional 35,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Dover by 14.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock worth $35,909,000 after buying an additional 25,562 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Dover by 9.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after buying an additional 19,156 shares during the last quarter. Norges Bank purchased a new stake in Dover during the 4th quarter worth about $175,275,000. Finally, Hsbc Holdings PLC lifted its holdings in Dover by 14.2% during the 4th quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after buying an additional 35,109 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

DOV stock traded down $1.48 during trading on Tuesday, hitting $180.22. The company had a trading volume of 229,417 shares, compared to its average volume of 990,151. The firm has a market cap of $24.77 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The firm has a 50-day moving average price of $180.16 and a 200-day moving average price of $176.15. 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 issued 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. The firm had revenue of $2.18 billion for 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, analysts expect that Dover Co. will post 9.15 earnings per share for the current 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 given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is 19.79%.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on DOV shares. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Barclays lifted their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Dover 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.