Fulton Bank N.A. Reduces Stock Position in Dover Co. (NYSE:DOV)

Fulton Bank N.A. lessened its position in shares of Dover Co. (NYSE:DOV) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,411 shares of the industrial products company’s stock after selling 253 shares during the quarter. Fulton Bank N.A.’s holdings in Dover were worth $504,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DOV. Orion Capital Management LLC purchased a new stake in Dover during the 1st quarter valued at about $35,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Dover in the first quarter worth about $39,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Dover by 29,600.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 297 shares of the industrial products company’s stock worth $45,000 after buying an additional 296 shares during the last quarter. Old North State Trust LLC boosted its stake in shares of Dover by 52.0% in the first quarter. Old North State Trust LLC now owns 456 shares of the industrial products company’s stock worth $47,000 after buying an additional 156 shares during the last quarter. Finally, Fairfield Bush & CO. purchased a new stake in shares of Dover in the first quarter worth about $48,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,631 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $142.00, for a total transaction of $657,602.00. Following the completion of the transaction, the chief financial officer now directly owns 49,938 shares in the company, valued at $7,091,196. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Dover Trading Up 0.2 %

Shares of Dover stock opened at $144.45 on Friday. The firm has a market capitalization of $20.20 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.38 and a beta of 1.33. Dover Co. has a fifty-two week low of $114.49 and a fifty-two week high of $160.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a 50 day moving average of $144.92 and a 200 day moving average of $144.24.

Dover (NYSE:DOV) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.16). The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Dover had a return on equity of 27.33% and a net margin of 12.04%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.14 earnings per share. As a group, research analysts predict that Dover Co. will post 8.89 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.51 per share. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, August 30th. Dover’s dividend payout ratio (DPR) is currently 28.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOV. Robert W. Baird upped their price target on Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. Wells Fargo & Company reduced their target price on Dover from $155.00 to $152.00 in a report on Monday, July 10th. Finally, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $162.38.

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.