Apollon Wealth Management LLC Grows Stock Holdings in Dover Co. (NYSE:DOV)

Apollon Wealth Management LLC grew its holdings in shares of Dover Co. (NYSE:DOV) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,589 shares of the industrial products company’s stock after buying an additional 827 shares during the quarter. Apollon Wealth Management LLC’s holdings in Dover were worth $880,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Dover during the first quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Dover in the third quarter valued at $33,000. McClarren Financial Advisors Inc. boosted its stake in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC purchased a new position in shares of Dover in the second quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover in the second quarter valued at $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of several analyst reports. Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. UBS Group initiated coverage on shares of Dover in a research note on Wednesday. They set a “neutral” rating and a $217.00 price objective on the stock. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Stock Down 0.5 %

Shares of NYSE:DOV opened at $201.18 on Friday. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22. Dover Co. has a 1-year low of $136.50 and a 1-year high of $204.93. The company’s fifty day moving average is $191.53 and its two-hundred day moving average is $184.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 1.02%. Dover’s dividend payout ratio (DPR) is 18.43%.

Insiders Place Their Bets

In related news, 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 value 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 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,042 shares of company stock valued at $7,368,578. Company 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.