Dimensional Fund Advisors LP Grows Position in Dover Co. (NYSE:DOV)

Dimensional Fund Advisors LP lifted its stake in shares of Dover Co. (NYSE:DOV) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,505,749 shares of the industrial products company’s stock after acquiring an additional 60,912 shares during the period. Dimensional Fund Advisors LP’s holdings in Dover were worth $271,702,000 as of its most recent SEC filing.

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

Insider Transactions at Dover

In related 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 transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Mizuho raised their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” 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 note on Monday, July 22nd. Finally, Royal Bank of Canada raised their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Price Performance

Shares of DOV opened at $188.34 on Wednesday. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.17 and a beta of 1.22. The stock has a 50 day moving average of $181.14 and a 200-day moving average of $179.00. 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 Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last issued 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. As a group, analysts forecast 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. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. Dover’s dividend payout ratio (DPR) 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.