Verition Fund Management LLC Has $13.06 Million Stake in Dover Co. (NYSE:DOV)

Verition Fund Management LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,114 shares of the industrial products company’s stock after selling 29,053 shares during the quarter. Verition Fund Management LLC’s holdings in Dover were worth $13,060,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of Dover in the first quarter worth $27,000. McClarren Financial Advisors Inc. increased its position in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Dover in the 3rd quarter worth about $33,000. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This represents a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Dover Trading Down 0.3 %

Dover stock opened at $205.90 on Friday. Dover Co. has a 52 week low of $139.93 and a 52 week high of $208.26. 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 firm has a market capitalization of $28.25 billion, a PE ratio of 18.42, a PEG ratio of 2.77 and a beta of 1.22. The business’s 50-day simple moving average is $194.77 and its 200-day simple moving average is $186.05.

Dover Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on DOV shares. Mizuho raised their price objective on shares of 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. Wells Fargo & Company upped 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. JPMorgan Chase & Co. raised their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover 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.