Portfolio Design Labs LLC Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Portfolio Design Labs LLC lowered its stake in Dover Co. (NYSE:DOV) by 77.9% during the 3rd quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Dover by 153.7% in the first 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 buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 in the last quarter. Interval Partners LP grew its holdings in shares of Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Finally, Swiss National Bank increased its position in Dover by 0.3% in the third quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock worth $78,211,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on 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 sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Mizuho lifted their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Performance

Shares of Dover stock opened at $198.71 on Wednesday. Dover Co. has a 52 week low of $136.50 and a 52 week high of $204.93. The company has a market capitalization of $27.26 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. The stock’s fifty day moving average is $192.31 and its two-hundred day moving average is $185.06. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. Dover’s payout ratio is 18.43%.

Dover Company 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.