Canada Pension Plan Investment Board Has $17.23 Million Stock Position in Dover Co. (NYSE:DOV)

Canada Pension Plan Investment Board raised its holdings in Dover Co. (NYSE:DOV) by 82.0% during the second quarter, HoldingsChannel reports. The firm owned 95,483 shares of the industrial products company’s stock after acquiring an additional 43,017 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Dover were worth $17,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Dover by 5.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 62 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares during the last quarter. CWM LLC increased its stake in shares of Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Dover by 4.0% in the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Dover by 2.3% in the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

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

Dover Stock Down 1.1 %

Shares of DOV opened at $189.12 on Monday. The company has a market capitalization of $25.99 billion, a PE ratio of 18.17, a PEG ratio of 2.17 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The stock’s 50-day moving average price is $181.83 and its two-hundred day moving average price is $179.57. 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 announced its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for 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 business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, analysts anticipate that Dover Co. will post 9.17 EPS 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 issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.09%. Dover’s payout ratio is presently 19.79%.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, 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. In the last three months, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

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.