Wolverine Asset Management LLC Makes New Investment in Dover Co. (NYSE:DOV)

Wolverine Asset Management LLC bought a new stake in Dover Co. (NYSE:DOV - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,000 shares of the industrial products company's stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Dover during the 3rd quarter valued at approximately $33,000. Assetmark Inc. grew its stake in shares of Dover by 5.0% during the third quarter. Assetmark Inc. now owns 51,611 shares of the industrial products company's stock worth $9,896,000 after buying an additional 2,436 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Dover during the third quarter worth $239,000. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Dover by 4.2% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,584 shares of the industrial products company's stock valued at $1,454,000 after acquiring an additional 309 shares in the last quarter. Finally, Olstein Capital Management L.P. grew its position in Dover by 3.6% during the 3rd quarter. Olstein Capital Management L.P. now owns 29,000 shares of the industrial products company's stock worth $5,560,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Insiders Place Their Bets

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 transaction, the senior vice president now owns 47,060 shares of the company's stock, valued at $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business's stock in a transaction dated 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 directly owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred 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 directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,042 shares of company stock valued at $7,368,578. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DOV shares. Oppenheimer reissued an "outperform" rating and set a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Wolfe Research raised shares of 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. Robert W. Baird reaffirmed an "outperform" rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the stock a "sector perform" rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on Dover from $210.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, October 25th. 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.40.

Dover Stock Up 0.8 %

Shares of Dover stock traded up $1.64 during trading hours on Wednesday, reaching $203.99. The company's stock had a trading volume of 533,093 shares, compared to its average volume of 968,665. The company has a market capitalization of $27.99 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.72 and a beta of 1.22. The stock's fifty day simple moving average is $190.48 and its two-hundred day simple moving average is $184.40. Dover Co. has a one year low of $133.77 and a one year high of $204.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 1.01%. Dover's payout ratio is 18.43%.

Dover Company 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.