Natixis Advisors LLC Lowers Stake in Dover Co. (NYSE:DOV)

Natixis Advisors LLC reduced its position in Dover Co. (NYSE:DOV) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,864 shares of the industrial products company’s stock after selling 1,329 shares during the quarter. Natixis Advisors LLC’s holdings in Dover were worth $16,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the period. Interval Partners LP grew its position in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Dover during the 2nd quarter valued at approximately $17,323,000. Finally, Earnest Partners LLC lifted its holdings in Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after purchasing an additional 95,056 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction 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 owns 47,060 shares in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DOV. Oppenheimer reiterated 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. JPMorgan Chase & Co. lifted their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Barclays increased their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. UBS Group started coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Price Performance

Shares of Dover stock opened at $198.71 on Wednesday. The stock has a 50 day moving average price of $192.31 and a 200-day moving average price of $185.06. Dover Co. has a one year low of $136.50 and a one year high of $204.93. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.70 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend 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.