Empirical Finance LLC Acquires 100 Shares of Dover Co. (NYSE:DOV)

Empirical Finance LLC raised its holdings in Dover Co. (NYSE:DOV) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,864 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Empirical Finance LLC’s holdings in Dover were worth $933,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in Dover during the first quarter worth $27,000. McClarren Financial Advisors Inc. raised its position in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the third quarter valued at about $33,000. Fairscale Capital LLC acquired a new stake in Dover during the second quarter worth about $34,000. Finally, Transcendent Capital Group LLC increased its stake in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. 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. JPMorgan Chase & Co. lifted their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by corporate insiders.

Dover Stock Down 0.5 %

Shares of DOV opened at $201.18 on Friday. The company has a market capitalization of $27.60 billion, a P/E ratio of 17.99, a PEG ratio of 2.74 and a beta of 1.22. Dover Co. has a one year low of $136.50 and a one year high of $204.93. The business’s 50 day simple moving average is $191.53 and its 200-day simple moving average is $184.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is presently 18.43%.

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.