D.A. Davidson & CO. Sells 194 Shares of Dover Co. (NYSE:DOV)

D.A. Davidson & CO. reduced its position in Dover Co. (NYSE:DOV) by 5.8% in the third quarter, Holdings Channel.com reports. The fund owned 3,141 shares of the industrial products company’s stock after selling 194 shares during the period. D.A. Davidson & CO.’s holdings in Dover were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Dover by 162.2% during 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 purchasing an additional 425,768 shares during the period. Interval Partners LP raised its position in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares during the period. FMR LLC increased its position in Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Dover in the 2nd quarter worth about $17,323,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dover by 153.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,569 shares of the industrial products company’s stock worth $26,990,000 after acquiring an additional 90,480 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

DOV opened at $204.79 on Tuesday. The firm has a market capitalization of $28.10 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22. The business’s 50-day moving average is $195.11 and its two-hundred day moving average is $186.22. Dover Co. has a 1 year low of $141.18 and a 1 year high of $208.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on DOV shares. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. UBS Group began coverage on Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insiders Place Their Bets

In related 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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.