US Bancorp DE Cuts Stake in Dover Co. (NYSE:DOV)

US Bancorp DE cut its position in Dover Co. (NYSE:DOV) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,098 shares of the industrial products company’s stock after selling 5,174 shares during the period. US Bancorp DE owned approximately 0.08% of Dover worth $21,494,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares during the period. American Century Companies Inc. increased its holdings in shares of Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares during the period. Interval Partners LP grew its holdings in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 0.1 %

Shares of NYSE:DOV opened at $189.11 on Friday. The firm has a 50 day simple moving average of $187.71 and a 200 day simple moving average of $182.81. Dover Co. has a 52 week low of $129.63 and a 52 week high of $195.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market cap of $25.94 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

Analyst Ratings Changes

A number of research firms have weighed in on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. 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 report on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.44.

Insider Transactions at Dover

In related news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s 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 owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 0.00 % 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 over the last quarter. Company insiders own 1.30% of the company’s stock.

About Dover

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.