BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,382 Shares of Dover Co. (NYSE:DOV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Dover Co. (NYSE:DOV) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,931 shares of the industrial products company’s stock after selling 3,382 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Dover were worth $4,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in shares of Dover by 975.5% during the 1st 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. ORG Partners LLC grew its position in Dover by 1,414.2% in the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 3,974 shares during the period. QRG Capital Management Inc. raised its stake in Dover by 10.8% during the 2nd quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock valued at $5,643,000 after buying an additional 3,051 shares during the last quarter. Versor Investments LP bought a new position in shares of Dover during the 3rd quarter valued at $1,920,000. Finally, Brendel Financial Advisors LLC boosted its stake in shares of Dover by 347.7% in the 3rd quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 17,685 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’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 transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Monday, October 28th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. UBS Group began coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Mizuho upped their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Price Performance

NYSE:DOV opened at $204.79 on Tuesday. The business’s 50-day simple moving average is $195.11 and its two-hundred day simple moving average is $186.22. The stock has a market cap of $28.10 billion, a PE ratio of 18.32, a P/E/G ratio of 2.77 and a beta of 1.22. Dover Co. has a 52 week low of $141.18 and a 52 week high of $208.26. 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. Stockholders of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 18.43%.

About Dover

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.