Dover Co. (NYSE:DOV) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its stake in Dover Co. (NYSE:DOV - Free Report) by 38.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,308 shares of the industrial products company's stock after selling 5,802 shares during the period. Dover makes up approximately 0.5% of Cornercap Investment Counsel Inc.'s holdings, making the stock its 25th largest position. Cornercap Investment Counsel Inc.'s holdings in Dover were worth $1,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company's stock worth $466,622,000 after acquiring an additional 1,595,611 shares during the last quarter. American Century Companies Inc. lifted its holdings in Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company's stock worth $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Interval Partners LP grew its holdings in Dover by 110.0% during the 2nd 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 in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Dover in the second quarter worth about $17,323,000. Finally, Earnest Partners LLC lifted its position in Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company's stock valued at $70,370,000 after purchasing an additional 95,056 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on DOV shares. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the stock a "sector perform" rating in a research report on Friday, July 26th. Wolfe Research raised shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Oppenheimer reiterated an "outperform" rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. StockNews.com upgraded Dover from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $197.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.40.

Dover Stock Performance

Shares of DOV traded down $0.91 during mid-day trading on Friday, reaching $201.18. The company had a trading volume of 677,540 shares, compared to its average volume of 965,219. The stock has a 50 day moving average of $191.02 and a two-hundred day moving average of $184.53. 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 capitalization of $27.60 billion, a P/E ratio of 18.07, a PEG ratio of 2.74 and a beta of 1.22. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93.

Dover Announces Dividend

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

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business's stock in a transaction that occurred on 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 approximately $33,285,578.88. The trade was a 12.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the business's 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 of the company's stock, valued at $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by company insiders.

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.