Assetmark Inc. Increases Stock Holdings in Dover Co. (NYSE:DOV)

Assetmark Inc. lifted its holdings in shares of Dover Co. (NYSE:DOV) by 5.0% during the 3rd quarter, Holdings Channel reports. The firm owned 51,611 shares of the industrial products company’s stock after buying an additional 2,436 shares during the period. Assetmark Inc.’s holdings in Dover were worth $9,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CWA Asset Management Group LLC purchased a new stake in Dover during the 3rd quarter worth approximately $239,000. Kornitzer Capital Management Inc. KS raised its stake in shares of Dover by 4.2% in the third quarter. Kornitzer Capital Management Inc. KS now owns 7,584 shares of the industrial products company’s stock valued at $1,454,000 after acquiring an additional 309 shares in the last quarter. Olstein Capital Management L.P. boosted its holdings in Dover by 3.6% in the third quarter. Olstein Capital Management L.P. now owns 29,000 shares of the industrial products company’s stock valued at $5,560,000 after purchasing an additional 1,000 shares during the period. Principal Financial Group Inc. grew its stake in Dover by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Finally, Financial Enhancement Group LLC purchased a new stake in Dover during the 3rd quarter worth about $7,080,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the 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 owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,042 shares of company stock worth $7,368,578. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOV shares. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Barclays raised their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $207.44.

Dover Stock Down 0.1 %

Dover stock opened at $201.50 on Monday. The company has a market capitalization of $27.64 billion, a P/E ratio of 18.02, a PEG ratio of 2.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a fifty-two week low of $130.07 and a fifty-two week high of $204.05. The stock has a 50-day simple moving average of $189.11 and a 200-day simple moving average of $183.93.

Dover Dividend Announcement

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 issued 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 currently 18.43%.

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.