Douglass Winthrop Advisors LLC Cuts Position in Dover Co. (NYSE:DOV)

Douglass Winthrop Advisors LLC reduced its holdings in shares of Dover Co. (NYSE:DOV) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 81,463 shares of the industrial products company’s stock after selling 3,225 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Dover were worth $15,620,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Main Street Financial Solutions LLC boosted its position in shares of Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after buying an additional 60 shares during the period. Valmark Advisers Inc. boosted its holdings in Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 63 shares during the period. Mather Group LLC. grew its position in Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 71 shares in the last quarter. Empower Advisory Group LLC raised its stake in shares of Dover by 3.7% during the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 73 shares during the period. Finally, PFG Investments LLC lifted its position in shares of Dover by 3.9% during the second quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock worth $352,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 1.1 %

DOV stock opened at $204.74 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $193.32 and its 200 day simple moving average is $185.47. The stock has a market cap of $28.09 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22. Dover Co. has a fifty-two week low of $137.73 and a fifty-two week high of $205.06.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. The ex-dividend date 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 (DPR) is presently 18.43%.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. UBS Group began coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target for the company. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.40.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’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 owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.