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Kovitz Investment Group Partners LLC Reduces Stake in Dover Co. (NYSE:DOV)

Dover logo with Industrial Products background

Kovitz Investment Group Partners LLC lowered its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 46.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,630 shares of the industrial products company's stock after selling 6,644 shares during the period. Kovitz Investment Group Partners LLC's holdings in Dover were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DOV. State Street Corp boosted its position in shares of Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company's stock worth $1,191,531,000 after purchasing an additional 56,149 shares in the last quarter. FMR LLC raised its stake in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company's stock worth $591,676,000 after buying an additional 149,378 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Dover by 4.2% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company's stock valued at $188,815,000 after acquiring an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 9,464 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. Wolfe Research upgraded Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $210.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Citigroup lifted their price objective on shares of Dover from $226.00 to $236.00 and gave the company a "buy" rating in a report on Monday. Barclays upped their target price on shares of Dover from $190.00 to $205.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, UBS Group began coverage on Dover in a research note on Wednesday, November 13th. They set a "neutral" rating and a $217.00 price target for the company. 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, Dover has a consensus rating of "Moderate Buy" and a consensus price target of $213.00.

Check Out Our Latest Research Report on DOV

Dover Stock Performance

Shares of NYSE DOV traded down $0.17 during midday trading on Wednesday, reaching $201.14. The company's stock had a trading volume of 513,950 shares, compared to its average volume of 940,543. The stock has a market capitalization of $27.59 billion, a P/E ratio of 18.01, a PEG ratio of 2.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The firm has a 50 day moving average price of $196.63 and a 200-day moving average price of $187.08. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26.

Dover Dividend Announcement

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

Dover Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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