Victory Capital Management Inc. Decreases Stock Position in Dover Co. (NYSE:DOV)

Victory Capital Management Inc. lowered its holdings in Dover Co. (NYSE:DOV - Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,023 shares of the industrial products company's stock after selling 12,892 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Dover worth $14,960,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Aigen Investment Management LP purchased a new position in Dover during the 3rd quarter worth $303,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Dover by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,761 shares of the industrial products company's stock worth $66,680,000 after buying an additional 2,225 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in shares of Dover by 4.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 35,832 shares of the industrial products company's stock worth $6,870,000 after buying an additional 1,514 shares during the last quarter. WealthPLAN Partners LLC boosted its holdings in shares of Dover by 9.4% in the 3rd quarter. WealthPLAN Partners LLC now owns 16,036 shares of the industrial products company's stock worth $3,075,000 after buying an additional 1,378 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Dover by 22.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,589 shares of the industrial products company's stock valued at $880,000 after acquiring an additional 827 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. Mizuho boosted their price objective on Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Dover from $210.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Finally, Wolfe Research upgraded 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $208.40.

Dover Stock Down 0.3 %

Dover stock traded down $0.60 on Wednesday, hitting $198.13. 618,286 shares of the stock traded hands, compared to its average volume of 961,572. The business's fifty day simple moving average is $192.61 and its 200 day simple moving average is $185.15. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market cap of $27.18 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover Co. has a 1 year low of $137.38 and a 1 year high of $204.93.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 1.04%. Dover's payout ratio is 18.43%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company'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 transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company's stock, valued at $2,156,700. This represents a 54.59 % decrease in their position. The sale 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 the company'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 value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

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.