The Manufacturers Life Insurance Company Sells 302 Shares of Dover Co. (NYSE:DOV)

The Manufacturers Life Insurance Company lowered its holdings in shares of Dover Co. (NYSE:DOV) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,212 shares of the industrial products company’s stock after selling 302 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Dover worth $15,763,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in shares of Dover by 975.5% in the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock worth $4,410,000 after purchasing an additional 22,572 shares during the last quarter. ORG Partners LLC grew its stake in Dover by 1,414.2% in the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 3,974 shares in the last quarter. Swedbank AB purchased a new position in shares of Dover during the first quarter worth approximately $1,581,000. QRG Capital Management Inc. raised its stake in shares of Dover by 10.8% during the second quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 3,051 shares in the last quarter. Finally, Versor Investments LP bought a new position in Dover in the third quarter worth approximately $1,920,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $205.90 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a market cap of $28.25 billion, a PE ratio of 18.42, a PEG ratio of 2.77 and a beta of 1.22. Dover Co. has a 12-month low of $139.93 and a 12-month high of $208.26. The business’s fifty day simple moving average is $195.11 and its 200-day simple moving average is $186.21.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DOV shares. Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Barclays raised their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Company 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.