Empowered Funds LLC Purchases 4,629 Shares of Dover Co. (NYSE:DOV)

Empowered Funds LLC increased its position in shares of Dover Co. (NYSE:DOV) by 54.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,158 shares of the industrial products company’s stock after acquiring an additional 4,629 shares during the period. Empowered Funds LLC’s holdings in Dover were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Dover by 153.7% during 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 period. Dimensional Fund Advisors LP increased its holdings in shares of Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after buying an additional 60,912 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares during the last quarter. Interval Partners LP increased its holdings in shares of Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after buying an additional 95,056 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $198.71 on Wednesday. The firm’s 50-day moving average price is $192.31 and its 200-day moving average price is $185.06. 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 company has a market cap of $27.26 billion, a PE ratio of 17.77, a PEG ratio of 2.70 and a beta of 1.22. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is presently 18.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DOV. JPMorgan Chase & Co. increased their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wolfe Research raised shares of 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 upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was 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.

Dover 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.