Oppenheimer & Co. Inc. Buys 5,421 Shares of Dover Co. (NYSE:DOV)

Oppenheimer & Co. Inc. raised its stake in shares of Dover Co. (NYSE:DOV) by 41.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,542 shares of the industrial products company’s stock after purchasing an additional 5,421 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Dover were worth $3,555,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Dover in the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. raised 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Dover in the third quarter worth $33,000. Fairscale Capital LLC acquired a new stake in Dover during the second quarter worth $34,000. Finally, Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DOV shares. Oppenheimer reiterated 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. UBS Group began coverage on shares of Dover in a research note on Wednesday. They set a “neutral” rating and a $217.00 price target for the company. Royal Bank of Canada upped their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 12.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on Thursday, August 29th. The shares were 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 directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,042 shares of company stock valued at $7,368,578 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Dover Trading Down 0.5 %

Shares of DOV opened at $201.18 on Friday. The stock has a fifty day moving average price of $191.53 and a two-hundred day moving average price of $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. The company has a market cap of $27.60 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.74 and a beta of 1.22. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.02%. 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.