Dover Co. (NYSE:DOV) Stake Reduced by Essex Savings Bank

Essex Savings Bank lessened its stake in shares of Dover Co. (NYSE:DOV) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,987 shares of the industrial products company’s stock after selling 100 shares during the period. Essex Savings Bank’s holdings in Dover were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Price T Rowe Associates Inc. MD grew its stake in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after acquiring an additional 60,912 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Interval Partners LP grew its holdings in shares of Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after purchasing an additional 305,436 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after purchasing an additional 95,056 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOV shares. Barclays increased their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Wells Fargo & Company lifted their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four investment 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, Dover currently has an average rating of “Moderate Buy” and an average target price of $207.44.

Dover Trading Down 0.1 %

Shares of DOV stock opened at $201.50 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $189.11 and a two-hundred day moving average price of $183.84. Dover Co. has a 12-month low of $130.07 and a 12-month high of $204.05. The firm has a market cap of $27.64 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 approximately $2,156,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock valued at $7,368,578 in the last 90 days. Insiders own 1.30% of the company’s stock.

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.