Global Trust Asset Management LLC Purchases 350 Shares of Dover Co. (NYSE:DOV)

Global Trust Asset Management LLC increased its holdings in Dover Co. (NYSE:DOV) by 42.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,165 shares of the industrial products company’s stock after purchasing an additional 350 shares during the quarter. Global Trust Asset Management LLC’s holdings in Dover were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DOV. Wealth Enhancement Advisory Services LLC increased its position in Dover by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,085 shares of the industrial products company’s stock valued at $2,319,000 after purchasing an additional 274 shares during the period. Register Financial Advisors LLC bought a new stake in shares of Dover during the 1st quarter valued at about $82,000. Seneca House Advisors bought a new position in Dover in the first quarter worth about $205,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Dover by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 379,103 shares of the industrial products company’s stock worth $67,173,000 after buying an additional 3,620 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Dover by 2.9% in the first quarter. Cornerstone Wealth Management LLC now owns 24,681 shares of the industrial products company’s stock worth $4,373,000 after buying an additional 704 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In other Dover news, 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 transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

DOV has been the subject of several research reports. Wells Fargo & Company increased their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday. Mizuho increased their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Dover Stock Performance

Shares of DOV stock opened at $186.93 on Friday. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover Co. has a one year low of $127.25 and a one year high of $195.68. The company’s 50-day moving average is $186.80 and its 200 day moving average is $182.19.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. Sell-side analysts expect that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

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.