Dover Co. (NYSE:DOV) Shares Acquired by KBC Group NV

KBC Group NV lifted its holdings in Dover Co. (NYSE:DOV) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,224 shares of the industrial products company’s stock after purchasing an additional 1,022 shares during the period. KBC Group NV’s holdings in Dover were worth $5,796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of DOV. Edgestream Partners L.P. acquired a new stake in Dover in the 1st quarter valued at $382,000. O Shaughnessy Asset Management LLC grew its position in shares of Dover by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,756 shares of the industrial products company’s stock valued at $3,323,000 after purchasing an additional 1,299 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Dover by 389.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,156 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 5,693 shares during the last quarter. Arjuna Capital purchased a new position in Dover in the 1st quarter valued at about $472,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Dover by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company’s stock worth $19,144,000 after buying an additional 1,953 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,042 shares of company stock valued at $7,368,578 in the last quarter. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Wells Fargo & Company increased their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. UBS Group assumed coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Performance

Dover stock opened at $201.18 on Monday. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 17.99, 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. The firm has a 50 day simple moving average of $191.53 and a 200-day simple moving average of $184.76. Dover Co. has a 1-year low of $136.50 and a 1-year high of $204.93.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.515 dividend. 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 1.02%. Dover’s dividend 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.