Chase Investment Counsel Corp Decreases Holdings in Dover Co. (NYSE:DOV)

Chase Investment Counsel Corp cut its holdings in shares of Dover Co. (NYSE:DOV) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,275 shares of the industrial products company’s stock after selling 300 shares during the period. Chase Investment Counsel Corp’s holdings in Dover were worth $244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Dover by 327.4% during the first quarter. Empowered Funds LLC now owns 7,385 shares of the industrial products company’s stock worth $1,309,000 after acquiring an additional 5,657 shares during the last quarter. Sei Investments Co. increased its holdings in Dover by 6.3% in the first quarter. Sei Investments Co. now owns 60,180 shares of the industrial products company’s stock valued at $10,663,000 after buying an additional 3,590 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Dover by 6.5% during the 1st quarter. Russell Investments Group Ltd. now owns 117,706 shares of the industrial products company’s stock valued at $20,857,000 after acquiring an additional 7,227 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Dover by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 169,808 shares of the industrial products company’s stock worth $30,088,000 after purchasing an additional 19,933 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Dover by 14.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after buying an additional 25,562 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DOV shares. Oppenheimer restated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Wells Fargo & Company upped their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Down 1.1 %

Dover stock opened at $202.36 on Wednesday. The company has a market capitalization of $27.76 billion, a P/E ratio of 18.10, a P/E/G ratio of 2.75 and a beta of 1.22. Dover Co. has a 1-year low of $130.75 and a 1-year high of $204.93. The firm’s fifty day simple moving average is $189.92 and its 200-day simple moving average is $184.27. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently disclosed 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 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is 18.43%.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,042 shares of company stock valued at $7,368,578. Corporate insiders own 1.30% of the company’s stock.

Dover Company 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.