Custom Index Systems LLC Purchases 3,713 Shares of Dover Co. (NYSE:DOV)

Custom Index Systems LLC lifted its holdings in Dover Co. (NYSE:DOV) by 91.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,791 shares of the industrial products company’s stock after acquiring an additional 3,713 shares during the period. Dover makes up approximately 0.8% of Custom Index Systems LLC’s portfolio, making the stock its 25th biggest position. Custom Index Systems LLC’s holdings in Dover were worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Wealth Enhancement Advisory Services LLC grew its holdings in Dover by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,085 shares of the industrial products company’s stock worth $2,319,000 after purchasing an additional 274 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Dover by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 379,103 shares of the industrial products company’s stock valued at $67,173,000 after buying an additional 3,620 shares during the period. Cornerstone Wealth Management LLC increased its position in Dover by 2.9% in the 1st quarter. Cornerstone Wealth Management LLC now owns 24,681 shares of the industrial products company’s stock valued at $4,373,000 after buying an additional 704 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Dover by 14.8% in the first quarter. First Trust Direct Indexing L.P. now owns 2,157 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 278 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Dover by 48.5% during the first quarter. Concord Wealth Partners now owns 306 shares of the industrial products company’s stock valued at $54,000 after buying an additional 100 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The stock was 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 owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wolfe Research raised shares of Dover to a “hold” rating in a research report on Friday, September 20th. Mizuho raised their target price on 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 increased their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Dover Stock Performance

Shares of NYSE:DOV traded up $2.20 during trading on Friday, hitting $186.98. 1,238,472 shares of the company were exchanged, compared to its average volume of 980,425. The company has a market cap of $25.70 billion, a PE ratio of 17.96, a P/E/G 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. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The stock has a 50 day moving average of $186.80 and a 200 day moving average of $182.22.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.16 by $0.11. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. As a group, equities research analysts predict that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.79%.

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.