Independent Advisor Alliance Increases Stock Holdings in Dover Co. (NYSE:DOV)

Independent Advisor Alliance lifted its stake in shares of Dover Co. (NYSE:DOV) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,036 shares of the industrial products company’s stock after buying an additional 58 shares during the period. Independent Advisor Alliance’s holdings in Dover were worth $3,458,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after acquiring an additional 60,912 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Dover by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after buying an additional 9,464 shares during the period. American Century Companies Inc. raised its stake in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares during the period. Interval Partners LP raised its stake in shares of Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after buying an additional 305,436 shares during the period. Finally, Swiss National Bank raised its stake in shares of Dover by 0.3% in the third quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock valued at $78,211,000 after buying an additional 1,100 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Dover Price Performance

Dover stock opened at $205.63 on Tuesday. Dover Co. has a 52 week low of $137.73 and a 52 week high of $207.74. The business has a 50-day simple moving average of $193.70 and a 200 day simple moving average of $185.61. 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 stock has a market cap of $28.21 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is 18.43%.

Analyst Ratings Changes

DOV has been the topic of several research reports. Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group initiated coverage on Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Wolfe Research upgraded 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. Four equities 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 stock has an average rating of “Moderate Buy” and an average target price of $208.40.

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.