Empowered Funds LLC Buys 4,629 Shares of Dover Co. (NYSE:DOV)

Empowered Funds LLC increased its stake in Dover Co. (NYSE:DOV - Free Report) by 54.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,158 shares of the industrial products company's stock after purchasing an additional 4,629 shares during the period. Empowered Funds LLC's holdings in Dover were worth $2,523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers raised its position in shares of Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company's stock valued at $4,410,000 after acquiring an additional 22,572 shares during the last quarter. ORG Partners LLC raised its position in shares of Dover by 1,414.2% during the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company's stock valued at $754,000 after acquiring an additional 3,974 shares during the last quarter. Swedbank AB acquired a new position in shares of Dover in the 1st quarter valued at $1,581,000. QRG Capital Management Inc. grew its holdings in shares of Dover by 10.8% in the 2nd quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company's stock valued at $5,643,000 after buying an additional 3,051 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company's stock valued at $466,622,000 after buying an additional 1,595,611 shares during the period. Institutional investors own 84.46% of the company's stock.

Dover Stock Performance

Shares of DOV stock traded down $1.63 on Wednesday, reaching $197.10. The stock had a trading volume of 159,858 shares, compared to its average volume of 959,176. 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's 50-day moving average is $192.31 and its two-hundred day moving average is $185.06. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.70 and a beta of 1.22. Dover Co. has a 12 month low of $137.38 and a 12 month high of $204.93.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.515 dividend. 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 1.05%. Dover's payout ratio is 18.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada boosted 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. StockNews.com raised shares of Dover from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Mizuho boosted their price target on shares of Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Dover from $190.00 to $197.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four 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 a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Insider Activity

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by 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.