Dover Co. (NYSE:DOV) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Dover Co. (NYSE:DOV) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,761 shares of the industrial products company’s stock after purchasing an additional 2,225 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Dover worth $66,680,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC lifted its holdings in Dover by 4.4% in the third quarter. WealthPlan Investment Management LLC now owns 35,832 shares of the industrial products company’s stock valued at $6,870,000 after acquiring an additional 1,514 shares during the last quarter. WealthPLAN Partners LLC raised its position in Dover by 9.4% in the third quarter. WealthPLAN Partners LLC now owns 16,036 shares of the industrial products company’s stock valued at $3,075,000 after purchasing an additional 1,378 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Dover by 22.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,589 shares of the industrial products company’s stock valued at $880,000 after purchasing an additional 827 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Dover by 14.5% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,883 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 619 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Dover during the 3rd quarter worth about $1,920,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $202.04 on Friday. Dover Co. has a 1 year low of $136.13 and a 1 year high of $204.93. The stock has a market capitalization of $27.72 billion, a PE ratio of 18.07, a PEG ratio of 2.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The stock has a 50-day simple moving average of $191.02 and a 200-day simple moving average of $184.53.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’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 completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,042 shares of company stock valued at $7,368,578. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DOV. UBS Group assumed coverage on shares of Dover in a research report on Wednesday. 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. Barclays raised their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

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.