Worldquant Millennium Advisors LLC trimmed its position in shares of Dover Corp (NYSE:DOV) by 71.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,476 shares of the industrial products company’s stock after selling 8,793 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Dover were worth $346,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in DOV. Horan Capital Advisors LLC. purchased a new position in Dover in the third quarter valued at approximately $25,000. Coastal Investment Advisors Inc. increased its stake in Dover by 154.4% in the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 159 shares during the last quarter. Shamrock Asset Management LLC purchased a new position in Dover in the second quarter valued at approximately $26,000. Krane Funds Advisors LLC purchased a new position in Dover in the second quarter valued at approximately $26,000. Finally, Sandy Spring Bank purchased a new position in Dover in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.
DOV stock opened at $111.48 on Monday. The company has a market capitalization of $16.19 billion, a P/E ratio of 22.43, a PEG ratio of 1.66 and a beta of 1.51. Dover Corp has a twelve month low of $65.83 and a twelve month high of $112.52. The business has a 50 day simple moving average of $105.80 and a 200-day simple moving average of $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 declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, November 27th. Dover’s dividend payout ratio is presently 39.44%.
In related news, Director Kristiane C. Graham sold 1,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $109.57, for a total transaction of $109,570.00. Following the completion of the sale, the director now directly owns 356,704 shares of the company’s stock, valued at $39,084,057.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,055 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $112.48, for a total value of $456,106.40. Over the last ninety days, insiders have sold 25,210 shares of company stock valued at $2,712,287. Corporate insiders own 1.70% of the company’s stock.
Several equities analysts have commented on DOV shares. Barclays increased their price target on shares of Dover from $112.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Dover from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird increased their price objective on Dover from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Citigroup increased their price objective on Dover from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 18th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $101.84.
Dover Company Profile
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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