Massmutual Trust Co. FSB ADV Boosts Position in Dover Co. (NYSE:DOV)

Massmutual Trust Co. FSB ADV raised its stake in shares of Dover Co. (NYSE:DOV) by 11.2% in the second quarter, Holdings Channel reports. The institutional investor owned 2,350 shares of the industrial products company’s stock after buying an additional 236 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Dover were worth $424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Dover during the first quarter worth about $28,000. AdvisorNet Financial Inc grew its holdings in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Transcendent Capital Group LLC grew its holdings in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares in the last quarter. Northwest Financial Advisors purchased a new position in shares of Dover during the fourth quarter worth about $36,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on DOV shares. Mizuho upped their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Oppenheimer boosted their price objective on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Trading Up 1.0 %

Shares of Dover stock traded up $1.74 during midday trading on Tuesday, reaching $174.48. 1,017,429 shares of the company’s stock traded hands, compared to its average volume of 1,016,706. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company has a market cap of $23.98 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The stock has a 50 day moving average of $180.91 and a 200-day moving average of $174.29. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $2.05 earnings per share. As a group, equities analysts expect that Dover Co. will post 9.15 EPS for the current fiscal 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 paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.18%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio is presently 19.60%.

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.