Mercer Global Advisors Inc. ADV Increases Holdings in Dover Co. (NYSE:DOV)

Mercer Global Advisors Inc. ADV raised its stake in Dover Co. (NYSE:DOV) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,267 shares of the industrial products company’s stock after purchasing an additional 3,657 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Dover were worth $8,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in 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 in the last quarter. American Century Companies Inc. grew its stake in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after acquiring an additional 414,481 shares during the last quarter. Interval Partners LP acquired a new position in shares of Dover in the first quarter worth about $49,195,000. Finally, Earnest Partners LLC boosted its holdings in Dover by 31.5% in the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Mizuho boosted their target price 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.63.

Dover Trading Down 1.1 %

NYSE DOV opened at $189.12 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a 50-day simple moving average of $181.73 and a 200-day simple moving average of $179.28. The firm has a market capitalization of $25.99 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio (DPR) is presently 19.79%.

Insider Activity

In related news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company’s stock, valued at approximately $2,274,887.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover 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 sale, the chief financial officer now directly 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 quarter, insiders sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

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.