Dover Co. (NYSE:DOV) Position Cut by Ingalls & Snyder LLC

Ingalls & Snyder LLC lowered its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,199 shares of the industrial products company’s stock after selling 71 shares during the period. Ingalls & Snyder LLC’s holdings in Dover were worth $613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Dover in the third quarter worth approximately $33,000. Fairscale Capital LLC bought a new position in Dover during the 2nd quarter valued at $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover during the 2nd quarter valued at $41,000. Finally, Avior Wealth Management LLC raised its stake in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after buying an additional 167 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Dover Stock Performance

Shares of DOV stock opened at $203.77 on Wednesday. The stock’s fifty day simple moving average is $195.38 and its 200-day simple moving average is $186.37. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.75 and a beta of 1.22. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 1-year low of $141.18 and a 1-year high of $208.26.

Dover Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Company 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.