Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Dover Co. (NYSE:DOV)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Dover Co. (NYSE:DOV) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,170 shares of the industrial products company’s stock after acquiring an additional 398 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dover were worth $4,059,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Dover by 153.7% during the first 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 acquiring an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 valued at $271,702,000 after acquiring an additional 60,912 shares in the last quarter. American Century Companies Inc. raised its position in Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares in the last quarter. Interval Partners LP raised its position in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares in the last quarter. Finally, Earnest Partners LLC raised its position in Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after acquiring an additional 95,056 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE:DOV opened at $194.38 on Friday. Dover Co. has a 52 week low of $127.25 and a 52 week high of $195.68. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $26.71 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.20 and a beta of 1.22. The stock’s fifty day moving average is $185.58 and its two-hundred day moving average is $181.73.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.06%. 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 payout ratio is currently 19.79%.

Insider Activity at Dover

In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOV. Wells Fargo & Company lifted their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Barclays boosted their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Mizuho boosted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.75.

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.