Portfolio Design Labs LLC Trims Stock Position in Dover Co. (NYSE:DOV)

Portfolio Design Labs LLC lowered its stake in shares of Dover Co. (NYSE:DOV) by 77.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,260 shares of the industrial products company’s stock after selling 11,476 shares during the quarter. Portfolio Design Labs LLC’s holdings in Dover were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DOV. Edgestream Partners L.P. purchased a new position in shares of Dover in the 1st quarter valued at approximately $382,000. O Shaughnessy Asset Management LLC lifted its position in Dover by 7.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,756 shares of the industrial products company’s stock valued at $3,323,000 after acquiring an additional 1,299 shares during the period. UniSuper Management Pty Ltd boosted its stake in Dover by 389.1% during the first quarter. UniSuper Management Pty Ltd now owns 7,156 shares of the industrial products company’s stock worth $1,268,000 after acquiring an additional 5,693 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Dover by 1.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company’s stock valued at $19,144,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Natixis lifted its holdings in shares of Dover by 2,275.0% during the first quarter. Natixis now owns 1,425 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 1,365 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Down 0.9 %

NYSE:DOV opened at $198.71 on Wednesday. Dover Co. has a one year low of $136.50 and a one year high of $204.93. The business has a fifty day moving average price of $192.31 and a 200-day moving average price of $185.06. The firm has a market capitalization of $27.26 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

Insider Activity

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DOV shares. Royal Bank of Canada raised their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. UBS Group began coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target for the company. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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.