Principal Financial Group Inc. Boosts Stock Position in Dover Co. (NYSE:DOV)

Principal Financial Group Inc. increased its position in Dover Co. (NYSE:DOV - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,844 shares of the industrial products company's stock after acquiring an additional 5,372 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Dover worth $34,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $466,622,000 after acquiring an additional 1,595,611 shares during the period. American Century Companies Inc. lifted its stake in Dover by 162.2% during 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 acquiring an additional 425,768 shares in the last quarter. Interval Partners LP raised its stake in shares of Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company's stock worth $105,216,000 after purchasing an additional 305,436 shares during the period. Kimelman & Baird LLC bought a new stake in Dover in the 2nd quarter valued at about $17,323,000. Finally, Earnest Partners LLC raised its stake in shares of Dover by 31.5% during the 1st 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 institutional investors.

Dover Stock Down 0.8 %

Shares of Dover stock traded down $1.70 during trading hours on Tuesday, hitting $202.88. 201,538 shares of the company's stock traded hands, compared to its average volume of 969,284. 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 company has a market cap of $27.83 billion, a PE ratio of 18.30, a PEG ratio of 2.71 and a beta of 1.22. Dover Co. has a twelve month low of $130.75 and a twelve month high of $204.93. The stock has a 50 day simple moving average of $189.48 and a 200-day simple moving average of $184.11.

Dover Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover's payout ratio is 18.43%.

Insider Transactions at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value 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 $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 182,928 shares of the company's stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company's stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,042 shares of company stock valued at $7,368,578 over the last three months. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

DOV has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Robert W. Baird reiterated an "outperform" rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Barclays boosted their price target on Dover from $186.00 to $190.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Finally, Oppenheimer reissued an "outperform" rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $207.44.

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.