Canada Pension Plan Investment Board Reduces Position in Dover Co. (NYSE:DOV)

Canada Pension Plan Investment Board reduced its stake in Dover Co. (NYSE:DOV) by 15.7% during the 4th quarter, Holdings Channel reports. The fund owned 23,007 shares of the industrial products company’s stock after selling 4,279 shares during the period. Canada Pension Plan Investment Board’s holdings in Dover were worth $4,316,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its holdings in shares of Dover by 26.6% during the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after buying an additional 75,670 shares in the last quarter. Advisory Resource Group boosted its position in Dover by 2.3% during the third quarter. Advisory Resource Group now owns 24,721 shares of the industrial products company’s stock worth $4,740,000 after acquiring an additional 557 shares during the last quarter. Virtu Financial LLC grew its stake in Dover by 85.1% in the 3rd quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock worth $2,756,000 after acquiring an additional 6,608 shares during the period. Anchor Investment Management LLC raised its holdings in Dover by 4.1% in the 3rd quarter. Anchor Investment Management LLC now owns 3,241 shares of the industrial products company’s stock valued at $621,000 after acquiring an additional 128 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Dover by 4.2% during the 3rd quarter. World Investment Advisors LLC now owns 3,267 shares of the industrial products company’s stock worth $626,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 3.5 %

Shares of NYSE DOV opened at $163.55 on Wednesday. The stock has a fifty day moving average price of $179.01 and a 200 day moving average price of $190.07. The company has a market cap of $22.42 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Research analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is 10.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup dropped their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of Dover in a research report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, UBS Group lowered their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

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.