Metis Global Partners LLC Has $844,000 Holdings in Dover Co. (NYSE:DOV)

Metis Global Partners LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 26.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,402 shares of the industrial products company’s stock after selling 1,577 shares during the period. Metis Global Partners LLC’s holdings in Dover were worth $844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOV. Edgestream Partners L.P. bought a new position in shares of Dover in the 1st quarter valued at approximately $382,000. O Shaughnessy Asset Management LLC raised 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 lifted its stake in shares of Dover by 389.1% in the first quarter. UniSuper Management Pty Ltd now owns 7,156 shares of the industrial products company’s stock worth $1,268,000 after buying an additional 5,693 shares during the last quarter. Arjuna Capital acquired a new position in Dover in the 1st quarter valued at $472,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Dover by 1.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company’s stock worth $19,144,000 after acquiring an additional 1,953 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $201.18 on Monday. 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 firm has a 50-day moving average price of $191.53 and a 200 day moving average price of $184.76. The firm has a market capitalization of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover Co. has a 12-month low of $136.50 and a 12-month high of $204.93.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company raised their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wolfe Research raised 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 report on Monday, October 28th. Finally, Royal Bank of Canada increased their price target 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 12.03 % decrease in their position. 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 90 days. 1.30% of the stock is owned by corporate insiders.

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.