Atom Investors LP Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Atom Investors LP lessened its stake in shares of Dover Co. (NYSE:DOV) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,934 shares of the industrial products company’s stock after selling 612 shares during the period. Atom Investors LP’s holdings in Dover were worth $1,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in DOV. Tidal Investments LLC lifted its position in shares of Dover by 44.1% in the first quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock worth $1,179,000 after buying an additional 2,038 shares in the last quarter. Cetera Investment Advisers raised 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 worth $4,410,000 after acquiring an additional 22,572 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Dover by 26.8% during the 1st quarter. Cetera Advisors LLC now owns 4,329 shares of the industrial products company’s stock valued at $767,000 after acquiring an additional 915 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Dover by 51.0% in the second quarter. GAMMA Investing LLC now owns 702 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 237 shares in the last quarter. Finally, Mather Group LLC. increased its position in Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV opened at $204.79 on Tuesday. The business has a fifty day moving average of $195.11 and a 200 day moving average of $186.22. The stock has a market cap of $28.10 billion, a P/E ratio of 18.32, a PEG ratio of 2.77 and a beta of 1.22. 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 Co. has a 52-week low of $141.18 and a 52-week high of $208.26.

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 paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Barclays increased their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group began coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.40.

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.