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

American Century Companies Inc. boosted its position in shares of Dover Corporation (NYSE:DOV) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 778,228 shares of the industrial products company’s stock after acquiring an additional 24,569 shares during the period. American Century Companies Inc. owned 0.57% of Dover worth $129,832,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Argent Trust Co raised its position in shares of Dover by 3.6% during the 3rd quarter. Argent Trust Co now owns 2,198 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 77 shares during the period. Quantbot Technologies LP bought a new stake in Dover during the third quarter valued at about $4,087,000. Handelsbanken Fonder AB raised its holdings in Dover by 12.3% during the third quarter. Handelsbanken Fonder AB now owns 55,553 shares of the industrial products company’s stock valued at $9,268,000 after acquiring an additional 6,100 shares during the period. Andra AP fonden bought a new position in shares of Dover in the third quarter worth about $6,289,000. Finally, Banco Santander S.A. purchased a new stake in shares of Dover during the third quarter worth about $8,602,000. 84.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president directly owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 85,127 shares of company stock valued at $19,698,081. 1.20% of the stock is currently owned by company insiders.

Dover Trading Down 0.8%

Shares of NYSE DOV opened at $225.32 on Monday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The business’s 50 day moving average is $212.11 and its two-hundred day moving average is $190.24. The stock has a market capitalization of $30.39 billion, a P/E ratio of 28.38, a PEG ratio of 1.73 and a beta of 1.26.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

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

Analyst Ratings Changes

DOV has been the topic of a number of research analyst reports. Weiss Ratings cut Dover from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Dover in a research report on Monday, January 12th. BNP Paribas Exane assumed coverage on shares of Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.