Main Street Financial Solutions LLC Purchases 60 Shares of Dover Co. (NYSE:DOV)

Main Street Financial Solutions LLC lifted its holdings in Dover Co. (NYSE:DOV) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,255 shares of the industrial products company’s stock after buying an additional 60 shares during the period. Main Street Financial Solutions LLC’s holdings in Dover were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. LRI Investments LLC bought a new position in Dover in the 1st quarter valued at $28,000. Ashton Thomas Securities LLC bought a new position in Dover during the third quarter valued at about $33,000. McClarren Financial Advisors Inc. grew its position in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares during the period. Fairscale Capital LLC purchased a new stake in Dover during the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Dover in the second quarter valued at about $41,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Oppenheimer reiterated an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group initiated coverage on shares of Dover in a research note on Wednesday. They issued a “neutral” rating and a $217.00 target price for the company. Finally, Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $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 is available through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 in the last three months. Company insiders own 1.30% of the company’s stock.

Dover Trading Down 1.0 %

DOV opened at $202.04 on Friday. The stock has a market cap of $27.72 billion, a PE ratio of 18.07, a PEG ratio of 2.72 and a beta of 1.22. The business has a 50 day moving average of $191.02 and a 200-day moving average of $184.53. Dover Co. has a 52 week low of $136.13 and a 52 week high of $204.93. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s payout ratio is 18.43%.

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.