Royal London Asset Management Ltd. Sells 258 Shares of Dover Co. (NYSE:DOV)

Royal London Asset Management Ltd. lowered its position in shares of Dover Co. (NYSE:DOV) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,020 shares of the industrial products company’s stock after selling 258 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Dover were worth $11,733,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Dover by 50.7% during the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Dover by 15.9% during the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after buying an additional 157,614 shares during the period. Finally, Norges Bank bought a new stake in shares of Dover in the 4th quarter valued at $175,275,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover 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 completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Dover Trading Up 1.9 %

NYSE:DOV opened at $186.63 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a market cap of $25.65 billion, a PE ratio of 17.93, a PEG ratio of 2.08 and a beta of 1.22. The firm has a 50-day moving average of $180.76 and a 200-day moving average of $178.50.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the company posted $2.05 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. Dover’s payout ratio is currently 19.79%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOV. Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note 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 reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.63.

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.