Charles Schwab Investment Management Inc. Acquires 9,464 Shares of Dover Co. (NYSE:DOV)

Charles Schwab Investment Management Inc. increased its stake in Dover Co. (NYSE:DOV) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,340 shares of the industrial products company’s stock after acquiring an additional 9,464 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Dover were worth $155,566,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. L & S Advisors Inc increased its position in shares of Dover by 23.6% during the 3rd quarter. L & S Advisors Inc now owns 46,105 shares of the industrial products company’s stock valued at $8,840,000 after purchasing an additional 8,791 shares during the last quarter. Avior Wealth Management LLC increased its position in Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Dover in the third quarter valued at $2,444,000. Prospera Financial Services Inc purchased a new position in shares of Dover during the 3rd quarter worth about $263,000. Finally, Pathstone Holdings LLC raised its position in Dover by 1.4% in the 3rd quarter. Pathstone Holdings LLC now owns 21,356 shares of the industrial products company’s stock worth $4,095,000 after purchasing an additional 288 shares during the period. 84.46% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Dover Trading Up 1.1 %

DOV opened at $204.74 on Monday. The stock has a fifty day moving average price of $193.32 and a 200-day moving average price of $185.47. Dover Co. has a 12 month low of $137.73 and a 12 month high of $205.06. 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 firm has a market cap of $28.09 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.72 and a beta of 1.22.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Analyst Ratings Changes

A number of research firms recently issued reports on DOV. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. UBS Group assumed coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. 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 research note on Wednesday, October 2nd. Finally, Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

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.