Charles Schwab Investment Management Inc. Acquires 9,464 Shares of Dover Co. (NYSE:DOV)

Charles Schwab Investment Management Inc. boosted its position in shares of Dover Co. (NYSE:DOV) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 811,340 shares of the industrial products company’s stock after buying an additional 9,464 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Dover worth $155,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after purchasing an additional 22,572 shares during the period. ORG Partners LLC boosted its position in Dover by 1,414.2% during the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after acquiring an additional 3,974 shares in the last quarter. Swedbank AB purchased a new position in shares of Dover during the 1st quarter worth approximately $1,581,000. QRG Capital Management Inc. raised its position in shares of Dover by 10.8% in the 2nd quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock worth $5,643,000 after acquiring an additional 3,051 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Dover in the 3rd quarter valued at approximately $1,920,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.1 %

Shares of Dover stock opened at $204.74 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. Dover Co. has a twelve month low of $137.73 and a twelve month high of $205.06. The company has a market cap of $28.09 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22. The company’s 50 day moving average is $193.32 and its 200 day moving average is $185.47.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Insider Activity at Dover

In other 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 sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Wells Fargo & Company increased their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. 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 report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $208.40.

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.