ICW Investment Advisors LLC Sells 287 Shares of Dover Co. (NYSE:DOV)

ICW Investment Advisors LLC cut its position in Dover Co. (NYSE:DOV) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,488 shares of the industrial products company’s stock after selling 287 shares during the quarter. ICW Investment Advisors LLC’s holdings in Dover were worth $1,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Dover by 2.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 7,275 shares of the industrial products company’s stock worth $1,313,000 after purchasing an additional 159 shares during the period. National Bank of Canada FI lifted its holdings in Dover by 27.7% during the 2nd quarter. National Bank of Canada FI now owns 46,197 shares of the industrial products company’s stock worth $8,175,000 after buying an additional 10,024 shares during the period. TD Asset Management Inc grew its position in shares of Dover by 1.8% in the 2nd quarter. TD Asset Management Inc now owns 48,864 shares of the industrial products company’s stock valued at $8,818,000 after buying an additional 869 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Dover by 40.6% in the second quarter. Larson Financial Group LLC now owns 450 shares of the industrial products company’s stock valued at $81,000 after buying an additional 130 shares during the period. Finally, Chilton Capital Management LLC increased its stake in shares of Dover by 3.2% in the second quarter. Chilton Capital Management LLC now owns 120,615 shares of the industrial products company’s stock valued at $21,765,000 after buying an additional 3,788 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on DOV shares. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada upped 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. Finally, 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Up 1.1 %

Dover stock traded up $1.92 during midday trading on Friday, reaching $176.97. The stock had a trading volume of 60,079 shares, compared to its average volume of 971,773. The company has a fifty day moving average price of $180.42 and a two-hundred day moving average price of $177.84. The company has a market capitalization of $24.32 billion, a P/E ratio of 16.82, a PEG ratio of 2.21 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 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 $192.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Transactions at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 30,565 shares of company stock valued at $5,576,733 over the last three months. Corporate insiders own 1.30% of the company’s stock.

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.