Mirae Asset Global Investments Co. Ltd. Buys 2,565 Shares of Dover Co. (NYSE:DOV)

Mirae Asset Global Investments Co. Ltd. grew its stake in Dover Co. (NYSE:DOV) by 20.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,108 shares of the industrial products company’s stock after acquiring an additional 2,565 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dover were worth $2,913,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Dover in the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its position in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares during the last quarter. Fairscale Capital LLC acquired a new position in Dover during the second quarter worth approximately $34,000. Transcendent Capital Group LLC increased its position in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Dover during the second quarter worth approximately $41,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.3 %

Shares of NYSE:DOV opened at $191.84 on Wednesday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $195.68. The stock has a market cap of $26.36 billion, a PE ratio of 18.43, a P/E/G ratio of 2.20 and a beta of 1.22. The business has a 50 day moving average of $187.25 and a 200-day moving average of $182.56. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s payout ratio is 19.79%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value 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 approximately $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DOV. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays boosted 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. Mizuho boosted their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, 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 report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.44.

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.