Wolverine Asset Management LLC Buys New Shares in Dover Co. (NYSE:DOV)

Wolverine Asset Management LLC purchased a new position in shares of Dover Co. (NYSE:DOV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,000 shares of the industrial products company’s stock, valued at approximately $1,342,000.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Dover in the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. boosted 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 valued at $32,000 after acquiring an additional 176 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Dover during the third quarter worth $33,000. Fairscale Capital LLC acquired a new position in Dover during the second quarter valued at $34,000. Finally, Transcendent Capital Group LLC boosted 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 purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DOV shares. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.44.

Dover Price Performance

Dover stock opened at $202.36 on Wednesday. Dover Co. has a 52-week low of $130.75 and a 52-week high of $204.93. 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 $27.76 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.71 and a beta of 1.22. The company has a fifty day simple moving average of $189.92 and a 200-day simple moving average of $184.27.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio is currently 18.43%.

Insider Buying and Selling

In other news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction dated 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 directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $33,285,578.88. This trade represents 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 sold 41,042 shares of company stock worth $7,368,578. Company insiders own 1.30% of the company’s stock.

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.