Dynamic Technology Lab Private Ltd Invests $293,000 in Dover Co. (NYSE:DOV)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Dover Co. (NYSE:DOV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,527 shares of the industrial products company’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Janus Henderson Group PLC increased its position in Dover by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 23,316 shares of the industrial products company’s stock worth $4,129,000 after purchasing an additional 903 shares during the last quarter. Tidal Investments LLC increased its holdings in Dover by 44.1% in the first quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock worth $1,179,000 after buying an additional 2,038 shares during the last quarter. Swedbank AB bought a new position in Dover during the first quarter valued at approximately $1,581,000. Cetera Investment Advisers lifted its stake in Dover by 975.5% in the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after acquiring an additional 22,572 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in Dover by 26.8% in the first quarter. Cetera Advisors LLC now owns 4,329 shares of the industrial products company’s stock worth $767,000 after acquiring an additional 915 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. upped 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. Wells Fargo & Company increased their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Barclays increased their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Stock Performance

Shares of NYSE DOV opened at $205.90 on Monday. Dover Co. has a 12 month low of $139.93 and a 12 month high of $208.26. The company has a market cap of $28.25 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.77 and a beta of 1.22. The business’s 50 day moving average is $195.11 and its two-hundred day moving average is $186.21. 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 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 paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 54.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.