Ipswich Investment Management Co. Inc. Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Ipswich Investment Management Co. Inc. lowered its stake in Dover Co. (NYSE:DOV) by 13.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,287 shares of the industrial products company’s stock after selling 200 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Dover were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DOV. Price T Rowe Associates Inc. MD grew its holdings in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after purchasing an additional 60,912 shares during the last quarter. American Century Companies Inc. raised its stake in Dover by 162.2% during the second 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 stake in shares of Dover by 110.0% in the 2nd 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. Finally, Earnest Partners LLC grew its stake in shares of Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after buying an additional 95,056 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.5 %

Dover stock opened at $201.18 on Friday. Dover Co. has a one year low of $136.50 and a one year high of $204.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The stock has a market cap of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22. The stock has a 50-day moving average of $191.53 and a two-hundred day moving average of $184.67.

Dover Dividend Announcement

The business 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. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio is currently 18.43%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DOV. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday. Mizuho increased 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. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 owns 47,060 shares in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. This represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,042 shares of company stock valued at $7,368,578 over the last ninety days. 1.30% of the stock is currently owned by insiders.

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.