Marco Investment Management LLC Decreases Stock Position in Dover Co. (NYSE:DOV)

Marco Investment Management LLC lowered its position in shares of Dover Co. (NYSE:DOV) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,633 shares of the industrial products company’s stock after selling 65 shares during the period. Marco Investment Management LLC’s holdings in Dover were worth $1,080,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DOV. Cetera Investment Advisers lifted its holdings in Dover by 975.5% in the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock worth $4,410,000 after buying an additional 22,572 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Dover by 1,414.2% in the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 3,974 shares in the last quarter. Swedbank AB purchased a new position in Dover in the first quarter valued at about $1,581,000. QRG Capital Management Inc. boosted its holdings in Dover by 10.8% in the second quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock valued at $5,643,000 after purchasing an additional 3,051 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated 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 owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover 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 sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents 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 Analyst Weigh In

A number of brokerages have issued reports on DOV. UBS Group assumed coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. Finally, Barclays lifted their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Performance

Shares of DOV stock opened at $204.74 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $193.32 and a two-hundred day moving average of $185.46. The company has a market cap of $28.09 billion, a P/E ratio of 18.31, a PEG ratio of 2.72 and a beta of 1.22. Dover Co. has a 52 week low of $137.73 and a 52 week high of $205.06.

Dover Announces Dividend

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 paid 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 1.01%. Dover’s payout ratio is currently 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.