Dover Co. (NYSE:DOV) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co lessened its position in shares of Dover Co. (NYSE:DOV) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,613 shares of the industrial products company’s stock after selling 954 shares during the quarter. Fiduciary Trust Co’s holdings in Dover were worth $6,637,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new position in Dover in the first quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Dover during the 3rd quarter worth approximately $33,000. McClarren Financial Advisors Inc. increased its holdings in Dover by 4,400.0% in the 2nd 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 last quarter. Fairscale Capital LLC purchased a new stake in Dover in the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover during the second quarter worth $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOV has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays increased their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Dover Stock Up 0.1 %

Shares of NYSE DOV opened at $206.51 on Friday. Dover Co. has a 1 year low of $137.73 and a 1 year high of $208.26. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The business has a 50-day moving average of $194.46 and a two-hundred day moving average of $185.90.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

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.