Voya Investment Management LLC Sells 8,925 Shares of Dover Corporation $DOV

Voya Investment Management LLC lowered its stake in Dover Corporation (NYSE:DOV) by 22.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,867 shares of the industrial products company’s stock after selling 8,925 shares during the quarter. Voya Investment Management LLC’s holdings in Dover were worth $5,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Czech National Bank increased its stake in shares of Dover by 3.9% in the third quarter. Czech National Bank now owns 34,830 shares of the industrial products company’s stock worth $5,811,000 after buying an additional 1,317 shares during the period. Ransom Advisory Ltd grew its holdings in Dover by 50.0% in the 3rd quarter. Ransom Advisory Ltd now owns 300 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 100 shares during the last quarter. Family Legacy Financial Solutions LLC increased its position in shares of Dover by 61.0% in the third quarter. Family Legacy Financial Solutions LLC now owns 5,371 shares of the industrial products company’s stock valued at $896,000 after acquiring an additional 2,035 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Dover by 133.6% in the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after acquiring an additional 375,333 shares during the period. Finally, Oak Thistle LLC raised its stake in shares of Dover by 100.7% during the third quarter. Oak Thistle LLC now owns 15,037 shares of the industrial products company’s stock valued at $2,509,000 after acquiring an additional 7,544 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.2%

NYSE DOV opened at $199.56 on Friday. The firm has a market capitalization of $27.37 billion, a PE ratio of 12.27, a P/E/G ratio of 1.53 and a beta of 1.31. The stock’s 50 day moving average is $185.58 and its 200 day moving average is $180.31. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion during the quarter. Research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is presently 12.79%.

Analysts Set New Price Targets

A number of research firms have commented on DOV. Robert W. Baird set a $235.00 price target on Dover in a research report on Friday, October 24th. UBS Group set a $200.00 target price on Dover in a research note on Friday, October 24th. Wells Fargo & Company restated a “positive” rating on shares of Dover in a report on Monday, December 15th. Barclays lifted their price target on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Finally, BNP Paribas began coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.64.

Insider Transactions at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is currently owned by corporate insiders.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.