Brooklyn Investment Group Purchases New Shares in Dover Co. (NYSE:DOV)

Brooklyn Investment Group acquired a new stake in Dover Co. (NYSE:DOV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 420 shares of the industrial products company’s stock, valued at approximately $81,000.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. grew its stake in Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after purchasing an additional 425,768 shares in the last quarter. 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 buying an additional 305,436 shares in the last quarter. FMR LLC increased its stake in shares of Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares during the last quarter. Kimelman & Baird LLC bought a new position in Dover during the 2nd quarter valued at $17,323,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Dover by 153.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,569 shares of the industrial products company’s stock worth $26,990,000 after acquiring an additional 90,480 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on DOV. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. UBS Group initiated coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Finally, Barclays lifted their price target 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Performance

DOV opened at $206.51 on Friday. The business has a fifty day simple moving average of $194.46 and a 200-day simple moving average of $185.90. The firm has a market cap of $28.33 billion, a PE ratio of 18.47, a P/E/G ratio of 2.76 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a fifty-two week low of $137.73 and a fifty-two week high of $208.26.

Dover Announces Dividend

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

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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.