Assenagon Asset Management S.A. Purchases 17,719 Shares of Dover Co. (NYSE:DOV)

Assenagon Asset Management S.A. grew its position in Dover Co. (NYSE:DOV) by 135.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,796 shares of the industrial products company’s stock after acquiring an additional 17,719 shares during the period. Assenagon Asset Management S.A.’s holdings in Dover were worth $5,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DOV. International Assets Investment Management LLC acquired a new position in Dover in the third quarter worth $14,459,000. Commerzbank Aktiengesellschaft FI acquired a new position in Dover during the 3rd quarter worth about $237,000. Lecap Asset Management Ltd. grew its holdings in Dover by 34.7% during the 3rd quarter. Lecap Asset Management Ltd. now owns 3,151 shares of the industrial products company’s stock worth $604,000 after acquiring an additional 811 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Dover by 3.7% in the third quarter. Private Advisor Group LLC now owns 9,139 shares of the industrial products company’s stock worth $1,752,000 after acquiring an additional 324 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Dover during the third quarter worth approximately $292,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Mizuho raised their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Barclays raised their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.44.

Dover Stock Up 2.9 %

Shares of NYSE:DOV opened at $192.46 on Tuesday. The company has a 50 day moving average price of $187.01 and a two-hundred day moving average price of $182.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company has a market capitalization of $26.45 billion, a PE ratio of 18.49, a PEG ratio of 2.20 and a beta of 1.22. Dover Co. has a 52 week low of $127.25 and a 52 week high of $195.68.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is presently 19.79%.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % 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, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,383 shares of company stock valued at $8,169,883. Company 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.