CIBC Asset Management Inc Buys 1,474 Shares of Dover Co. (NYSE:DOV)

CIBC Asset Management Inc raised its position in shares of Dover Co. (NYSE:DOV) by 7.7% in the third quarter, HoldingsChannel reports. The fund owned 20,587 shares of the industrial products company’s stock after acquiring an additional 1,474 shares during the period. CIBC Asset Management Inc’s holdings in Dover were worth $3,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DOV. Edgestream Partners L.P. bought a new position in Dover during the 1st quarter worth $382,000. O Shaughnessy Asset Management LLC raised its stake in Dover by 7.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,756 shares of the industrial products company’s stock worth $3,323,000 after purchasing an additional 1,299 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Dover by 389.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 7,156 shares of the industrial products company’s stock valued at $1,268,000 after purchasing an additional 5,693 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Dover by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,025 shares of the industrial products company’s stock worth $19,144,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Natixis increased its holdings in shares of Dover by 2,275.0% during the first quarter. Natixis now owns 1,425 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 1,365 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DOV shares. JPMorgan Chase & Co. boosted their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. 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 research note on Monday, October 28th. Finally, UBS Group began coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Activity

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

Dover Stock Down 0.3 %

Shares of DOV opened at $200.53 on Tuesday. 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 52 week low of $136.50 and a 52 week high of $204.93. The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.70 and a beta of 1.22. The stock has a fifty day moving average of $191.96 and a 200-day moving average of $184.92.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 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.