Hsbc Holdings PLC Increases Position in Dover Co. (NYSE:DOV)

Hsbc Holdings PLC raised its position in shares of Dover Co. (NYSE:DOV) by 6.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 346,460 shares of the industrial products company’s stock after purchasing an additional 21,169 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Dover worth $62,588,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after acquiring an additional 60,912 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 worth $189,433,000 after acquiring an additional 414,481 shares during the last quarter. Norges Bank purchased a new stake in shares of Dover in the 4th quarter valued at $175,275,000. Finally, American Century Companies Inc. grew its holdings in shares of Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction 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 directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 in the last quarter. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of 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 restated an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the company 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Price Performance

DOV opened at $191.18 on Friday. The stock’s 50 day moving average price is $181.55 and its 200-day moving average price is $179.19. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The stock has a market capitalization of $26.27 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. 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 (NYSE:DOV) last posted 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. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted $2.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend 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.