Dover Co. (NYSE:DOV) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its holdings in Dover Co. (NYSE:DOV) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,114 shares of the industrial products company’s stock after selling 29,053 shares during the quarter. Verition Fund Management LLC’s holdings in Dover were worth $13,060,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares during the period. Dimensional Fund Advisors LP increased its stake in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Dover by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after buying an additional 17,193 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Dover by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after acquiring an additional 9,464 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent analyst reports. Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Barclays boosted their price target on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred 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 directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Dover Trading Down 0.3 %

NYSE:DOV opened at $205.90 on Friday. The stock has a fifty day simple moving average of $194.77 and a 200 day simple moving average of $186.05. 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 firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22. Dover Co. has a 1-year low of $139.93 and a 1-year high of $208.26.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

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.