First Citizens Bank & Trust Co. Raises Stock Holdings in Dover Co. (NYSE:DOV)

First Citizens Bank & Trust Co. boosted its holdings in shares of Dover Co. (NYSE:DOV) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,624 shares of the industrial products company’s stock after purchasing an additional 168 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Dover were worth $887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DOV. Benjamin F. Edwards & Company Inc. increased its stake in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 62 shares during the last quarter. Valmark Advisers Inc. increased its stake in Dover by 1.6% during the second 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 last quarter. Wedmont Private Capital increased its stake in Dover by 4.0% during the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 68 shares during the last quarter. Mather Group LLC. boosted its position in shares of Dover by 2.3% during the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after buying an additional 71 shares during the period. Finally, PFG Investments LLC boosted 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 buying an additional 74 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DOV. Oppenheimer restated an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Wolfe Research upgraded Dover to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Barclays lifted their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.75.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock worth $8,169,883 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Dover Trading Down 0.3 %

NYSE:DOV opened at $194.38 on Monday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $195.68. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $26.71 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The stock has a fifty day moving average price of $185.58 and a 200 day moving average price of $181.73.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm earned $2.05 earnings per share. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Dover Co. will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. Dover’s dividend payout ratio (DPR) is currently 19.79%.

About Dover

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.