MetLife Investment Management LLC Sells 914 Shares of Dover Co. (NYSE:DOV)

MetLife Investment Management LLC lowered its holdings in Dover Co. (NYSE:DOV) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,735 shares of the industrial products company’s stock after selling 914 shares during the period. MetLife Investment Management LLC’s holdings in Dover were worth $6,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DOV. LRI Investments LLC bought a new stake in shares of Dover in the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. increased its stake in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Dover during the third quarter valued at approximately $33,000. Fairscale Capital LLC bought a new stake in Dover during the second quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. UBS Group started coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Trading Down 0.3 %

Shares of DOV stock opened at $205.90 on Friday. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.77 and a beta of 1.22. The stock has a 50-day moving average of $194.77 and a 200-day moving average of $186.05. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 1-year low of $139.93 and a 1-year high of $208.26.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 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.