Dover Co. (NYSE:DOV) Stake Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Dover Co. (NYSE:DOV) by 57.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,313 shares of the industrial products company’s stock after acquiring an additional 9,611 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Dover were worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of 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 period. Dimensional Fund Advisors LP grew its holdings in shares of Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after purchasing an additional 60,912 shares during the last quarter. Wellington Management Group LLP boosted 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 worth $189,433,000 after purchasing an additional 414,481 shares in the last quarter. American Century Companies Inc. lifted its position 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 worth $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Finally, Interval Partners LP increased its holdings in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DOV shares. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Mizuho increased their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wolfe Research raised Dover to a “hold” rating in a report on Friday, September 20th. Finally, 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 report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Activity at Dover

In related news, 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 transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Dover Trading Up 1.5 %

DOV opened at $193.03 on Friday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $193.85. The company has a fifty day moving average of $182.11 and a 200-day moving average of $180.02. The stock has a market cap of $26.53 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, sell-side analysts predict that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

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