Dover Co. (NYSE:DOV) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in Dover Co. (NYSE:DOV) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 347,761 shares of the industrial products company’s stock after purchasing an additional 2,225 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Dover were worth $66,680,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Dover by 153.7% in 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 acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP boosted its stake in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after purchasing an additional 60,912 shares during the period. American Century Companies Inc. grew its position 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 worth $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Interval Partners LP increased its stake in Dover by 110.0% in 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 period. Finally, Earnest Partners LLC raised its holdings 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 buying an additional 95,056 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DOV has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group began coverage on shares of Dover in a research note on Wednesday. They issued a “neutral” rating and a $217.00 target price for the company. Finally, Oppenheimer reiterated 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Trading Down 1.0 %

Shares of DOV stock opened at $202.04 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a fifty-two week low of $136.13 and a fifty-two week high of $204.93. The firm’s 50 day moving average price is $191.02 and its two-hundred day moving average price is $184.53. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. 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.