Rockefeller Capital Management L.P. Sells 16,381 Shares of Dover Co. (NYSE:DOV)

Rockefeller Capital Management L.P. decreased its holdings in Dover Co. (NYSE:DOV) by 13.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,736 shares of the industrial products company’s stock after selling 16,381 shares during the period. Rockefeller Capital Management L.P.’s holdings in Dover were worth $19,697,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Independent Advisor Alliance boosted its stake in Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after buying an additional 58 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in Dover by 2.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after buying an additional 60 shares during the last quarter. Valmark Advisers Inc. boosted its stake in Dover by 1.6% during the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after buying an additional 63 shares during the last quarter. Mather Group LLC. boosted its stake in Dover by 2.3% during the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after buying an additional 71 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its stake in Dover by 3.7% during 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. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.3 %

Shares of NYSE DOV opened at $205.90 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The business’s 50 day moving average price is $195.11 and its 200-day moving average price is $186.21. Dover Co. has a fifty-two week low of $139.93 and a fifty-two week high of $208.26. The company 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.

Dover Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. Dover’s payout ratio is 18.43%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly 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 can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOV. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover 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.