Caprock Group LLC Lowers Holdings in Dover Co. (NYSE:DOV)

Caprock Group LLC reduced its stake in Dover Co. (NYSE:DOV) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,196 shares of the industrial products company’s stock after selling 173 shares during the period. Caprock Group LLC’s holdings in Dover were worth $613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis increased its stake in Dover by 2,275.0% during the 1st quarter. Natixis now owns 1,425 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 1,365 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Dover by 2.1% during the first quarter. Toronto Dominion Bank now owns 79,143 shares of the industrial products company’s stock valued at $14,023,000 after buying an additional 1,643 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Dover during the first quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD raised its holdings in Dover by 153.7% in the 1st 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 acquiring an additional 1,595,611 shares during the last quarter. Finally, Transcendent Capital Group LLC lifted its position in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of DOV opened at $204.70 on Friday. Dover Co. has a 52 week low of $137.73 and a 52 week high of $205.06. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $28.08 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.67 and a beta of 1.22. The business has a 50-day simple moving average of $193.32 and a two-hundred day simple moving average of $185.43.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DOV shares. JPMorgan Chase & Co. boosted their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Barclays raised their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective 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. Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.