Dover Co. (NYSE:DOV) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its holdings in Dover Co. (NYSE:DOV) by 17.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,679 shares of the industrial products company’s stock after selling 801 shares during the period. Pitcairn Co.’s holdings in Dover were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOV. Cerity Partners LLC boosted its position in Dover by 5.0% during the 3rd quarter. Cerity Partners LLC now owns 54,187 shares of the industrial products company’s stock valued at $10,390,000 after purchasing an additional 2,592 shares during the period. Raymond James Trust N.A. lifted its stake in Dover by 13.7% in the third quarter. Raymond James Trust N.A. now owns 4,399 shares of the industrial products company’s stock valued at $843,000 after buying an additional 529 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dover by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after acquiring an additional 9,464 shares during the period. L & S Advisors Inc grew its position in shares of Dover by 23.6% during the third quarter. L & S Advisors Inc now owns 46,105 shares of the industrial products company’s stock worth $8,840,000 after acquiring an additional 8,791 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 acquiring an additional 167 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DOV has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Mizuho lifted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Price Performance

Shares of Dover stock opened at $204.74 on Monday. Dover Co. has a 52 week low of $137.73 and a 52 week high of $205.06. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The stock has a market cap of $28.09 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22. The company’s 50-day moving average price is $193.32 and its two-hundred day moving average price is $185.47.

Dover Dividend Announcement

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

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.