Fisher Asset Management LLC Decreases Stake in Dover Co. (NYSE:DOV)

Fisher Asset Management LLC decreased its position in Dover Co. (NYSE:DOV) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,623,486 shares of the industrial products company’s stock after selling 10,994 shares during the period. Fisher Asset Management LLC’s holdings in Dover were worth $311,288,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Dover in the 1st quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover during the 3rd quarter worth approximately $33,000. McClarren Financial Advisors Inc. increased its stake in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.4 %

NYSE:DOV opened at $205.63 on Tuesday. Dover Co. has a one year low of $137.73 and a one year high of $207.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The company’s 50-day simple moving average is $193.70 and its 200 day simple moving average is $185.61. The firm has a market capitalization of $28.21 billion, a P/E ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22.

Dover Announces Dividend

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 paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Insider Buying and Selling

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 shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DOV shares. Oppenheimer restated an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Mizuho boosted their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.40.

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.