Voya Investment Management LLC Decreases Stake in Dover Corporation $DOV

Voya Investment Management LLC reduced its position in Dover Corporation (NYSE:DOV) by 22.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 30,867 shares of the industrial products company’s stock after selling 8,925 shares during the period. Voya Investment Management LLC’s holdings in Dover were worth $5,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Czech National Bank raised its position in shares of Dover by 3.9% in the third quarter. Czech National Bank now owns 34,830 shares of the industrial products company’s stock valued at $5,811,000 after purchasing an additional 1,317 shares during the period. Ransom Advisory Ltd raised its holdings in Dover by 50.0% during the 3rd quarter. Ransom Advisory Ltd now owns 300 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 100 shares during the period. Family Legacy Financial Solutions LLC lifted its position in shares of Dover by 61.0% during the third quarter. Family Legacy Financial Solutions LLC now owns 5,371 shares of the industrial products company’s stock worth $896,000 after acquiring an additional 2,035 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Dover by 133.6% in the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock worth $109,499,000 after acquiring an additional 375,333 shares during the period. Finally, Oak Thistle LLC grew its position in shares of Dover by 100.7% in the third quarter. Oak Thistle LLC now owns 15,037 shares of the industrial products company’s stock valued at $2,509,000 after purchasing an additional 7,544 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of several analyst reports. Wells Fargo & Company restated a “positive” rating on shares of Dover in a research note on Monday, December 15th. Royal Bank Of Canada raised their price objective on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. BNP Paribas began coverage on shares of Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price on the stock. Finally, Robert W. Baird set a $235.00 price target on shares of Dover in a research report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.64.

Dover Price Performance

Shares of NYSE:DOV opened at $199.56 on Friday. The company’s fifty day moving average price is $185.58 and its 200-day moving average price is $180.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The firm has a market capitalization of $27.37 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.53 and a beta of 1.31. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The company had revenue of $1.78 billion during the quarter. On average, equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.52 dividend. The ex-dividend date was Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is presently 12.79%.

Insider Activity at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by corporate insiders.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.