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

MQS Management LLC acquired a new stake in Dover Co. (NYSE:DOV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,072 shares of the industrial products company’s stock, valued at approximately $397,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Valmark Advisers Inc. lifted its stake in Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 63 shares during the last quarter. Mather Group LLC. lifted its position in shares of Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 71 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Dover by 3.7% in the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after buying an additional 73 shares during the last quarter. PFG Investments LLC raised its stake in Dover by 3.9% in the second quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock valued at $352,000 after buying an additional 74 shares in the last quarter. Finally, Bill Few Associates Inc. boosted its holdings in Dover by 3.6% in the third quarter. Bill Few Associates Inc. now owns 2,325 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 80 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOV has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group began coverage on Dover in a research report on Wednesday. They set a “neutral” rating and a $217.00 price objective for the company. Robert W. Baird reissued an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Stock Performance

NYSE DOV opened at $203.99 on Thursday. The business has a 50 day moving average price of $190.48 and a 200 day moving average price of $184.40. 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 has a market capitalization of $27.99 billion, a P/E ratio of 18.25, a PEG ratio of 2.72 and a beta of 1.22. Dover Co. has a 1-year low of $133.77 and a 1-year high of $204.93.

Dover Dividend Announcement

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 $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.01%. Dover’s payout ratio is 18.43%.

Insider Buying and Selling at Dover

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 completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value 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. This represents a 0.00 % 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 the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by corporate insiders.

About Dover

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.