Kingsview Wealth Management LLC Sells 10,624 Shares of Dover Co. (NYSE:DOV)

Kingsview Wealth Management LLC trimmed its holdings in Dover Co. (NYSE:DOV) by 80.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,613 shares of the industrial products company’s stock after selling 10,624 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Dover were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after purchasing an additional 60,912 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Dover by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after buying an additional 9,464 shares during the period. American Century Companies Inc. grew its position 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 worth $124,195,000 after buying an additional 425,768 shares in the last quarter. Interval Partners LP increased its stake in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares during the period. Finally, Swiss National Bank raised its holdings in Dover by 0.3% in the 3rd quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock valued at $78,211,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $206.51 on Friday. Dover Co. has a 1-year low of $137.73 and a 1-year high of $208.26. The company has a 50 day moving average of $194.46 and a 200-day moving average of $185.90. 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 $28.33 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.76 and a beta of 1.22.

Dover Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOV. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Barclays boosted 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. 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 report on Monday, October 28th. Mizuho upped their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover 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 transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

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.