Mackenzie Financial Corp Grows Stock Position in Dover Co. (NYSE:DOV)

Mackenzie Financial Corp boosted its stake in Dover Co. (NYSE:DOV) by 42.4% in the third quarter, Holdings Channel reports. The fund owned 8,721 shares of the industrial products company’s stock after buying an additional 2,597 shares during the quarter. Mackenzie Financial Corp’s holdings in Dover were worth $1,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new position in Dover in the 3rd quarter worth approximately $29,000. Heritage Wealth Advisors raised its position in shares of Dover by 681.8% in the 3rd quarter. Heritage Wealth Advisors now owns 258 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 225 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Dover by 334.8% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 287 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 221 shares in the last quarter. Capital Directions Investment Advisors LLC raised its position in shares of Dover by 160.9% in the 3rd quarter. Capital Directions Investment Advisors LLC now owns 287 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 177 shares in the last quarter. Finally, Founders Capital Management acquired a new position in shares of Dover in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In other news, CFO Brad M. Cerepak sold 20,033 shares of the stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $166.48, for a total value of $3,335,093.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony K. Kosinski sold 1,645 shares of the stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $170.82, for a total value of $280,998.90. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

A number of equities analysts have issued reports on DOV shares. Vertical Research started coverage on Dover in a research report on Friday, October 8th. They issued a “sell” rating and a $152.00 target price on the stock. Royal Bank of Canada upped their target price on Dover from $163.00 to $171.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 20th. Wells Fargo & Company raised Dover from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $165.00 to $184.00 in a research report on Monday, December 20th. Morgan Stanley upped their target price on Dover from $190.00 to $194.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Oppenheimer raised Dover from a “market perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a research report on Friday, January 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has an average rating of “Hold” and an average target price of $184.00.

Shares of NYSE DOV opened at $178.48 on Friday. Dover Co. has a 1-year low of $115.88 and a 1-year high of $184.04. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.64 and a quick ratio of 1.12. The business’s fifty day moving average price is $174.61 and its two-hundred day moving average price is $168.33. The firm has a market capitalization of $25.70 billion, a PE ratio of 27.50, a P/E/G ratio of 1.53 and a beta of 1.40.

Dover (NYSE:DOV) last issued its earnings results on Monday, October 18th. The industrial products company reported $1.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.13. Dover had a return on equity of 29.67% and a net margin of 12.25%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts expect that Dover Co. will post 7.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Tuesday, November 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, November 29th. Dover’s dividend payout ratio is presently 30.82%.

About Dover

Dover Corp. engages in the manufacture of equipment, components, and specialty systems. The firm also provides supporting engineering, testing, and other similar services. It operates through the following segments: Engineered Products, Fueling Solutions, Imaging and Identification, Pumps and Process Solutions, and Refrigeration and Food Equipment.

Further Reading: What is Cost of Goods Sold (COGS)?

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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