Dover Co. (NYSE:DOV) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its stake in shares of Dover Co. (NYSE:DOV) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,164 shares of the industrial products company’s stock after purchasing an additional 1,920 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Dover worth $27,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake 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 worth $466,622,000 after acquiring an additional 1,595,611 shares in the last quarter. American Century Companies Inc. increased 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. Wellington Management Group LLP lifted its holdings in shares of Dover by 50.7% in 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 purchasing an additional 414,481 shares during the last quarter. Interval Partners LP acquired a new stake in shares of Dover in the 1st quarter valued at about $49,195,000. Finally, Earnest Partners LLC grew its stake in Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after buying an additional 95,056 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.1 %

NYSE DOV opened at $192.75 on Friday. Dover Co. has a 52-week low of $127.25 and a 52-week high of $194.75. The firm has a 50-day moving average price of $182.29 and a 200 day moving average price of $180.17. The stock has a market capitalization of $26.49 billion, a P/E ratio of 18.52, a P/E/G 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 posted its quarterly 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. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DOV shares. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Wolfe Research upgraded shares of Dover to a “hold” rating in a research note on Friday, September 20th. Mizuho lifted their price objective 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. Finally, Robert W. Baird reiterated an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The shares were 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 of the company’s stock, valued at $8,706,100. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’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 sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction 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 transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $8,169,883 over the last 90 days. Company insiders own 1.30% of the company’s stock.

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.