Sustainable Insight Capital Management LLC decreased its position in shares of Dover Corp (NYSE:DOV) by 24.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,600 shares of the industrial products company’s stock after selling 8,049 shares during the quarter. Dover makes up approximately 2.9% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 24th biggest position. Sustainable Insight Capital Management LLC’s holdings in Dover were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Dover by 113.0% during the 4th quarter. Allworth Financial LP now owns 213 shares of the industrial products company’s stock worth $25,000 after buying an additional 113 shares in the last quarter. CFM Wealth Partners LLC bought a new position in shares of Dover during the 4th quarter worth $27,000. Horan Capital Advisors LLC. bought a new position in shares of Dover during the 3rd quarter worth $25,000. Sandy Spring Bank purchased a new stake in shares of Dover during the 3rd quarter worth $26,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of Dover during the 3rd quarter worth $30,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Dover stock traded up $0.06 during midday trading on Tuesday, reaching $119.92. The company’s stock had a trading volume of 610,668 shares, compared to its average volume of 839,618. The stock’s 50-day simple moving average is $117.23 and its 200-day simple moving average is $105.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.46 and a quick ratio of 1.00. Dover Corp has a 52-week low of $87.07 and a 52-week high of $120.26. The stock has a market capitalization of $17.41 billion, a P/E ratio of 25.96, a PEG ratio of 1.65 and a beta of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 28th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, February 27th. Dover’s dividend payout ratio (DPR) is presently 33.05%.
In other Dover news, Director Kristiane C. Graham sold 400 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $48,000.00. Following the completion of the sale, the director now directly owns 357,392 shares in the company, valued at $42,887,040. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP William Spurgeon sold 6,559 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.48, for a total value of $718,079.32. Following the completion of the sale, the vice president now owns 5,296 shares of the company’s stock, valued at $579,806.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,114 shares of company stock valued at $1,234,186. 1.70% of the stock is currently owned by company insiders.
DOV has been the subject of a number of analyst reports. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, October 22nd. Morgan Stanley upped their price objective on Dover from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. ValuEngine cut Dover from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. Deutsche Bank upped their price objective on Dover from $107.00 to $119.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Barclays restated a “buy” rating and set a $130.00 price objective on shares of Dover in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $114.38.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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