We report the results of monitoring of the radio galaxy 3C 120 with the Neil Gehrels Swift Observatory, Very Long Baseline Array, and Metsähovi Radio Observatory. The UV-optical continuum spectrum and R-band polarization can be explained by a superposition of an inverted-spectrum source with a synchrotron component containing a disordered magnetic field. The UV-optical and X-ray light curves include dips and flares, while several superluminal knots appear in the parsec-scale jet. The recovery time of the second dip was longer at UV-optical wavelengths, in conflict with a model in which the inner accretion disk (AD) is disrupted during a dip and then refilled from outer to inner radii. We favor an alternative scenario in which occasional polar alignments of the magnetic field in the disk and corona cause the flux dips and formation of shocks in the jet. Similar to observations of Seyfert galaxies, intra-band time lags