State of Alaska Department of Revenue lessened its holdings in Dover Co. (NYSE:DOV – Free Report) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,406 shares of the industrial products company’s stock after selling 4,145 shares during the period. State of Alaska Department of Revenue’s holdings in Dover were worth $3,912,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP raised its stake in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after acquiring an additional 60,912 shares during the period. American Century Companies Inc. raised its stake in Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the period. Interval Partners LP raised its stake in Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the period. Finally, Earnest Partners LLC raised its stake in Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after acquiring an additional 95,056 shares during the period. Institutional investors own 84.46% of the company’s stock.
Analyst Upgrades and Downgrades
DOV has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Monday. Barclays raised their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.44.
Insider Activity at Dover
In related 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 value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock valued at $7,368,578. 1.30% of the stock is owned by corporate insiders.
Dover Trading Up 0.6 %
DOV stock opened at $192.99 on Thursday. The firm has a fifty day moving average price of $187.46 and a 200 day moving average price of $182.63. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $195.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The firm has a market cap of $26.52 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.
Dover Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.07%. Dover’s dividend payout ratio (DPR) is 19.79%.
Dover Profile
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.
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