AEGON ASSET MANAGEMENT UK Plc Cuts Stake in Dover Co. (NYSE:DOV)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in shares of Dover Co. (NYSE:DOV) by 1.0% during the third quarter, HoldingsChannel.com reports. The firm owned 120,664 shares of the industrial products company’s stock after selling 1,272 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Dover were worth $23,135,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in DOV. LRI Investments LLC acquired a new position in Dover in the first quarter valued at $27,000. McClarren Financial Advisors Inc. raised its holdings in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $34,000. Transcendent Capital Group LLC raised its holdings in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Dover during the second quarter valued at approximately $41,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DOV shares. Mizuho increased their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Oppenheimer reaffirmed 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. upped their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada raised their price target 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $207.44.

Dover Trading Down 0.2 %

NYSE:DOV opened at $201.43 on Friday. Dover Co. has a 52 week low of $130.07 and a 52 week high of $204.05. 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 company has a market cap of $27.63 billion, a PE ratio of 18.02, a P/E/G ratio of 2.54 and a beta of 1.22. The business’s 50 day moving average is $189.11 and its two-hundred day moving average is $183.76.

Dover Announces Dividend

The firm also recently announced 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. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover’s payout ratio is 18.43%.

Insiders Place Their Bets

In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated 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 owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,042 shares of company stock valued at $7,368,578. Company insiders own 1.30% of the company’s stock.

Dover 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.