Abacus Planning Group Inc. Has $307,000 Stake in Dover Co. (NYSE:DOV)

Abacus Planning Group Inc. boosted its holdings in shares of Dover Co. (NYSE:DOV) by 38.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702 shares of the industrial products company’s stock after buying an additional 471 shares during the period. Abacus Planning Group Inc.’s holdings in Dover were worth $307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Dover by 27.4% during the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock valued at $29,451,000 after acquiring an additional 35,750 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Dover by 14.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after purchasing an additional 25,562 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Dover by 9.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after buying an additional 19,156 shares in the last quarter. Norges Bank bought a new position in shares of Dover during the 4th quarter worth approximately $175,275,000. Finally, Hsbc Holdings PLC boosted its stake in Dover by 14.2% in the 4th quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock valued at $43,330,000 after buying an additional 35,109 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $186.03 on Friday. The firm has a 50 day simple moving average of $180.50 and a 200 day simple moving average of $177.45. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The firm has a market cap of $25.57 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.21 and a beta of 1.22.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. Sell-side analysts predict that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.60%.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,565 shares of company stock worth $5,576,733. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of analyst reports. Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Mizuho lifted their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $192.63.

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.