Kentucky Retirement Systems Insurance Trust Fund Sells 363 Shares of Dover Co. (NYSE:DOV)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Dover Co. (NYSE:DOV) by 8.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,070 shares of the industrial products company’s stock after selling 363 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Dover were worth $780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Coastline Trust Co purchased a new position in shares of Dover during the third quarter valued at approximately $50,000. Empowered Funds LLC increased its position in Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after purchasing an additional 4,629 shares during the period. Empirical Finance LLC raised its holdings in Dover by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 4,864 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 100 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Dover by 7.7% during the 3rd quarter. CIBC Asset Management Inc now owns 20,587 shares of the industrial products company’s stock valued at $3,947,000 after purchasing an additional 1,474 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Dover by 13.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,142 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 507 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DOV. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Oppenheimer reissued 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. Mizuho upped their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Down 0.5 %

Shares of Dover stock opened at $201.18 on Monday. The company has a 50-day simple moving average of $191.53 and a two-hundred day simple moving average of $184.76. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93. 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 stock has a market capitalization of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover’s dividend payout ratio is 18.43%.

Insiders Place Their Bets

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,042 shares of company stock valued at $7,368,578. Corporate insiders own 1.30% of the company’s stock.

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.