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

Canada Pension Plan Investment Board lifted its stake in Dover Co. (NYSE:DOV) by 82.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,483 shares of the industrial products company’s stock after purchasing an additional 43,017 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Dover worth $17,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of DOV. Price T Rowe Associates Inc. MD lifted 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares during the last quarter. Wellington Management Group LLP grew its position 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 acquiring an additional 414,481 shares in the last quarter. American Century Companies Inc. increased its stake 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 worth $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Dover by 31.5% during the 1st 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 in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on DOV shares. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. 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 research report on Friday, July 26th. 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 research 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 company has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Price Performance

Shares of DOV stock opened at $189.12 on Monday. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. The stock’s fifty day simple moving average is $181.83 and its 200 day simple moving average is $179.57. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s 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 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. In the last 90 days, insiders sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

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.