Waverton Investment Management Ltd Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Waverton Investment Management Ltd lowered its position in Dover Co. (NYSE:DOV) by 29.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Waverton Investment Management Ltd’s holdings in Dover were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. Empowered Funds LLC boosted its stake in Dover by 327.4% in the first quarter. Empowered Funds LLC now owns 7,385 shares of the industrial products company’s stock worth $1,309,000 after buying an additional 5,657 shares in the last quarter. SG Americas Securities LLC lifted its position in Dover by 75.1% in the first quarter. SG Americas Securities LLC now owns 19,972 shares of the industrial products company’s stock valued at $3,539,000 after purchasing an additional 8,563 shares during the last quarter. Sei Investments Co. lifted its position 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 purchasing an additional 3,590 shares during the last quarter. QRG Capital Management Inc. lifted its position in Dover by 2.7% in the first quarter. QRG Capital Management Inc. now owns 28,223 shares of the industrial products company’s stock valued at $5,001,000 after purchasing an additional 740 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Dover by 6.5% in the first quarter. Russell Investments Group Ltd. now owns 117,706 shares of the industrial products company’s stock valued at $20,857,000 after purchasing an additional 7,227 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock worth $7,368,578 in the last three months. 1.30% of the stock is currently owned by company insiders.

Dover Price Performance

Shares of NYSE:DOV opened at $204.58 on Tuesday. Dover Co. has a 1-year low of $130.75 and a 1-year high of $204.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The business has a fifty day moving average price of $189.48 and a 200-day moving average price of $184.11. The company has a market capitalization of $28.07 billion, a PE ratio of 18.30, a PEG ratio of 2.71 and a beta of 1.22.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. Dover’s dividend payout ratio is currently 18.43%.

Analyst Ratings Changes

Several analysts have weighed in on DOV shares. Barclays boosted their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Oppenheimer restated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.44.

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.