National Pension Service boosted its holdings in shares of Dover Corp (NYSE:DOV) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 246,661 shares of the industrial products company’s stock after acquiring an additional 12,545 shares during the period. National Pension Service’s holdings in Dover were worth $24,558,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in shares of Dover during the third quarter worth $25,000. Shamrock Asset Management LLC bought a new position in shares of Dover during the second quarter worth $26,000. Sandy Spring Bank bought a new position in shares of Dover during the third quarter worth $26,000. Coastal Investment Advisors Inc. boosted its position in shares of Dover by 154.4% during the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 159 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Dover during the second quarter worth $26,000. 87.48% of the stock is owned by hedge funds and other institutional investors.
DOV opened at $111.48 on Monday. The stock has a market capitalization of $16.19 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.66 and a beta of 1.51. Dover Corp has a 12 month low of $65.83 and a 12 month high of $112.52. The firm’s fifty day simple moving average is $105.80 and its 200 day simple moving average is $98.14. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.96 annualized dividend and a yield of 1.76%. Dover’s dividend payout ratio is currently 39.44%.
In other Dover news, Director Kristiane C. Graham sold 13,596 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $105.07, for a total transaction of $1,428,531.72. Following the sale, the director now directly owns 356,704 shares of the company’s stock, valued at approximately $37,478,889.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William Spurgeon sold 6,559 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.48, for a total transaction of $718,079.32. Following the sale, the vice president now directly owns 5,296 shares in the company, valued at $579,806.08. The disclosure for this sale can be found here. Insiders sold a total of 25,210 shares of company stock worth $2,712,287 over the last ninety days. 1.70% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on DOV shares. Robert W. Baird lifted their price target on shares of Dover from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Royal Bank of Canada set a $96.00 price target on shares of Dover and gave the stock a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Dover from $112.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $101.84.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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