American Century Companies Inc. Grows Holdings in Dover Corporation $DOV

American Century Companies Inc. grew its stake in shares of Dover Corporation (NYSE:DOV) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 778,228 shares of the industrial products company’s stock after purchasing an additional 24,569 shares during the quarter. American Century Companies Inc.’s holdings in Dover were worth $129,832,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DOV. Mission Wealth Management LP grew its stake in Dover by 0.8% in the 3rd quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 58 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Dover by 4.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 60 shares during the period. Certuity LLC grew its stake in Dover by 2.5% in the second quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock worth $474,000 after purchasing an additional 64 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Dover by 4.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 64 shares during the period. Finally, CWA Asset Management Group LLC raised its position in Dover by 5.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 1,218 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.8%

NYSE:DOV opened at $225.32 on Monday. The company’s 50-day simple moving average is $212.11 and its 200-day simple moving average is $190.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. The stock has a market capitalization of $30.39 billion, a P/E ratio of 28.38, a P/E/G ratio of 1.73 and a beta of 1.26.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. Dover’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 85,127 shares of company stock worth $19,698,081 in the last ninety days. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DOV shares. UBS Group set a $256.00 price target on Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Dover in a report on Monday, January 12th. Robert W. Baird set a $255.00 price target on shares of Dover in a research report on Friday, January 30th. Finally, Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $224.00.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.