Portfolio Design Labs LLC Sells 11,476 Shares of Dover Co. (NYSE:DOV)

Portfolio Design Labs LLC reduced its position in Dover Co. (NYSE:DOV - Free Report) by 77.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,260 shares of the industrial products company's stock after selling 11,476 shares during the period. Portfolio Design Labs LLC's holdings in Dover were worth $625,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD raised its stake in shares of Dover by 153.7% during the first 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 purchasing an additional 1,595,611 shares during the period. American Century Companies Inc. boosted its holdings in shares of Dover by 162.2% in the 2nd 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 grew its holdings in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company's stock valued at $105,216,000 after purchasing an additional 305,436 shares during the last quarter. Kimelman & Baird LLC bought a new position in Dover during the 2nd quarter worth $17,323,000. Finally, Earnest Partners LLC increased its stake in shares of Dover by 31.5% in 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 period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOV shares. Mizuho upped their price target on shares of Dover from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Wolfe Research upgraded Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price target for the company in a research report on Monday, October 28th. UBS Group began coverage on shares of Dover in a research note on Wednesday, November 13th. They set a "neutral" rating and a $217.00 price objective for the company. Barclays boosted their price target on shares of Dover from $186.00 to $190.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Dover from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.40.

Dover Stock Down 0.3 %

Shares of NYSE DOV traded down $0.60 during trading hours on Wednesday, hitting $198.13. The stock had a trading volume of 618,286 shares, compared to its average volume of 961,572. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market capitalization of $27.18 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.70 and a beta of 1.22. Dover Co. has a 52 week low of $137.38 and a 52 week high of $204.93. The firm's 50-day moving average price is $192.31 and its two-hundred day moving average price is $185.06.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. Dover's dividend payout ratio is currently 18.43%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 in the company, 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 currently owned by corporate insiders.

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.