American Century Companies Inc. Has $124.20 Million Holdings in Dover Co. (NYSE:DOV)

American Century Companies Inc. lifted its holdings in shares of Dover Co. (NYSE:DOV) by 162.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 688,249 shares of the industrial products company’s stock after buying an additional 425,768 shares during the quarter. American Century Companies Inc. owned about 0.50% of Dover worth $124,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after acquiring an additional 492,577 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 1,595,611 shares during the last quarter. Wellington Management Group LLP lifted its stake in Dover by 50.7% in the fourth 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 boosted its holdings in Dover by 15.9% during 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 acquired a new position in shares of Dover during the 4th quarter worth about $175,275,000. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DOV. Royal Bank of Canada lifted their price objective 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 lifted their price target 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 restated an “outperform” rating and issued 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $192.63.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a filing with the SEC, 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 that occurred 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 sale, 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. Over the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE DOV opened at $185.06 on Friday. The company has a fifty day moving average price of $180.93 and a 200 day moving average price of $178.65. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The firm has a market cap of $25.44 billion, a PE ratio of 17.78, a PEG ratio of 2.17 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 posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping 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 return on equity of 24.94% and a net margin of 17.58%. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Research analysts predict that Dover Co. will post 9.17 earnings per share 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 given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

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.