Victory Capital Management Inc. Sells 12,892 Shares of Dover Co. (NYSE:DOV)

Victory Capital Management Inc. decreased its holdings in Dover Co. (NYSE:DOV) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,023 shares of the industrial products company’s stock after selling 12,892 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Dover worth $14,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Aigen Investment Management LP bought a new position in Dover in the 3rd quarter valued at $303,000. Sumitomo Mitsui Trust Group Inc. raised its position in Dover by 0.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,761 shares of the industrial products company’s stock valued at $66,680,000 after purchasing an additional 2,225 shares during the last quarter. WealthPlan Investment Management LLC raised its position in Dover by 4.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 35,832 shares of the industrial products company’s stock valued at $6,870,000 after purchasing an additional 1,514 shares during the last quarter. WealthPLAN Partners LLC raised its position in Dover by 9.4% in the 3rd quarter. WealthPLAN Partners LLC now owns 16,036 shares of the industrial products company’s stock valued at $3,075,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in Dover by 22.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,589 shares of the industrial products company’s stock valued at $880,000 after purchasing an additional 827 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group assumed coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Dover Stock Down 0.9 %

NYSE:DOV opened at $198.71 on Wednesday. Dover Co. has a 1 year low of $136.50 and a 1 year high of $204.93. 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 stock has a market cap of $27.26 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.70 and a beta of 1.22. The stock has a 50-day moving average price of $192.31 and a two-hundred day moving average price of $185.06.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. 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.