Mackenzie Financial Corp Trims Holdings in Dover Co. (NYSE:DOV)

Mackenzie Financial Corp reduced its stake in shares of Dover Co. (NYSE:DOV) by 7.3% during the 4th quarter, HoldingsChannel reports. The fund owned 12,110 shares of the industrial products company’s stock after selling 957 shares during the period. Mackenzie Financial Corp’s holdings in Dover were worth $1,863,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DOV. CWM LLC lifted its holdings in shares of Dover by 14.5% during the 3rd quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 264 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Dover by 18.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,645 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 251 shares during the period. Park Place Capital Corp lifted its holdings in shares of Dover by 18.8% during the 3rd quarter. Park Place Capital Corp now owns 770 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 122 shares during the period. CX Institutional raised its holdings in Dover by 5.4% in the third quarter. CX Institutional now owns 4,861 shares of the industrial products company’s stock valued at $678,000 after buying an additional 251 shares during the period. Finally, Czech National Bank raised its holdings in Dover by 47.7% in the third quarter. Czech National Bank now owns 24,447 shares of the industrial products company’s stock valued at $3,411,000 after buying an additional 7,892 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 1.1 %

DOV stock opened at $172.19 on Wednesday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $23.65 billion, a P/E ratio of 22.90, a PEG ratio of 1.76 and a beta of 1.27. The firm has a 50 day simple moving average of $170.83 and a 200-day simple moving average of $153.72.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company earned $2.16 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Analyst Ratings Changes

DOV has been the topic of several research reports. Barclays raised their price target on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada increased their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Oppenheimer increased their price objective on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 over the last ninety days. 1.30% of the stock is owned by insiders.

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.