PFG Investments LLC Raises Stock Position in Dover Co. (NYSE:DOV)

PFG Investments LLC grew its holdings in shares of Dover Co. (NYSE:DOV) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,951 shares of the industrial products company’s stock after buying an additional 74 shares during the quarter. PFG Investments LLC’s holdings in Dover were worth $352,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in Dover by 15.4% during the fourth 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 during the period. Price T Rowe Associates Inc. MD increased its position in shares of Dover by 153.7% during the 1st 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 purchasing an additional 1,595,611 shares during the last quarter. Wellington Management Group LLP raised its holdings in 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 valued at $189,433,000 after buying an additional 414,481 shares during the period. Corient Private Wealth LLC lifted its position in Dover by 15.9% in the fourth 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 last quarter. Finally, Norges Bank purchased a new position in Dover during the fourth quarter worth $175,275,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.9 %

Shares of NYSE DOV opened at $186.63 on Friday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The stock’s fifty day simple moving average is $180.76 and its two-hundred day simple moving average is $178.50. The stock has a market capitalization of $25.65 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.08 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 (NYSE:DOV) last issued its quarterly earnings data 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 firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the business posted $2.05 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, 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. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 19.79%.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’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 owns 12,324 shares in the company, valued at approximately $2,156,700. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 over the last 90 days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.