Harbour Trust & Investment Management Co Sells 193 Shares of Dover Co. (NYSE:DOV)

Harbour Trust & Investment Management Co trimmed its holdings in Dover Co. (NYSE:DOV) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 4,558 shares of the industrial products company’s stock after selling 193 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Dover were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Tectonic Advisors LLC lifted its position in Dover by 6.2% in the 3rd quarter. Tectonic Advisors LLC now owns 2,437 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 143 shares in the last quarter. Global Trust Asset Management LLC lifted its holdings in shares of Dover by 42.9% in the third quarter. Global Trust Asset Management LLC now owns 1,165 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 350 shares in the last quarter. Mcdaniel Terry & Co. boosted its position in shares of Dover by 0.5% during the third quarter. Mcdaniel Terry & Co. now owns 209,648 shares of the industrial products company’s stock valued at $40,198,000 after buying an additional 1,010 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Dover by 135.5% during the third quarter. Assenagon Asset Management S.A. now owns 30,796 shares of the industrial products company’s stock worth $5,905,000 after buying an additional 17,719 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Dover during the 3rd quarter valued at $14,459,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 over the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research report 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Price Performance

Dover stock opened at $184.70 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a one year low of $127.25 and a one year high of $195.68. The firm has a market capitalization of $25.38 billion, a P/E ratio of 17.74, a PEG ratio of 2.20 and a beta of 1.22. The business has a fifty day moving average price of $186.66 and a 200-day moving average price of $182.12.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. As a group, equities research analysts forecast that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 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.