Mackenzie Financial Corp Sells 957 Shares of Dover Co. (NYSE:DOV)

Mackenzie Financial Corp reduced its stake in Dover Co. (NYSE:DOV) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its stake in Dover by 10.5% in the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares in the last quarter. Northern Trust Corp grew its stake in Dover by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after acquiring an additional 89,774 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after acquiring an additional 879,533 shares in the last quarter. Invesco Ltd. lifted its position in shares of Dover by 14.9% in the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after purchasing an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Dover by 3.6% in the 3rd quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock worth $138,457,000 after purchasing an additional 34,207 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DOV. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Oppenheimer upped their price target on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Barclays upped their price target on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Robert W. Baird upped their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.13.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The shares were 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 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 can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by corporate insiders.

Dover Trading Up 1.1 %

Shares of Dover stock opened at $172.19 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28. The firm has a market capitalization of $23.65 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.76 and a beta of 1.27. The firm’s 50 day simple moving average is $170.83 and its two-hundred day simple moving average is $153.72.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $2.16 EPS. Dover’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Dover Co. will post 9.06 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.18%. Dover’s payout ratio is 27.13%.

About Dover

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.