Burney Co. Has $4.29 Million Position in Dover Co. (NYSE:DOV)

Burney Co. cut its position in Dover Co. (NYSE:DOV) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,748 shares of the industrial products company’s stock after selling 261 shares during the period. Burney Co.’s holdings in Dover were worth $4,285,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Financial Advocates Investment Management acquired a new stake in Dover in the second quarter worth $594,000. HB Wealth Management LLC raised its holdings in Dover by 31.5% in the second quarter. HB Wealth Management LLC now owns 7,462 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,788 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Dover by 104.5% in the second quarter. Rosenberg Matthew Hamilton now owns 319 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 163 shares during the period. McClarren Financial Advisors Inc. raised its holdings 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 worth $32,000 after purchasing an additional 176 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Dover by 13.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,489 shares of the industrial products company’s stock worth $3,336,000 after acquiring an additional 2,178 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOV shares. Royal Bank of Canada increased their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Mizuho increased their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Up 1.3 %

Dover stock traded up $2.44 during mid-day trading on Thursday, reaching $184.28. The company’s stock had a trading volume of 546,606 shares, compared to its average volume of 969,527. The company has a market capitalization of $25.33 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The business’s 50 day simple moving average is $180.44 and its 200 day simple moving average is $177.12. 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 released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share 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 the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, research analysts anticipate that Dover Co. will post 9.15 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. Dover’s payout ratio is currently 19.79%.

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.