First Commonwealth Financial Corp PA Acquires 73 Shares of Dover Co. (NYSE:DOV)

First Commonwealth Financial Corp PA raised its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 3,459 shares of the industrial products company’s stock after buying an additional 73 shares during the period. First Commonwealth Financial Corp PA’s holdings in Dover were worth $663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance grew its stake in shares of Dover by 0.3% during the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the period. Main Street Financial Solutions LLC grew its stake in shares of Dover by 2.7% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 60 shares during the period. Valmark Advisers Inc. grew its stake in shares of Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares during the period. Mather Group LLC. grew its stake in shares of Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 71 shares during the period. Finally, Empower Advisory Group LLC grew its stake in shares of Dover by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 73 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. UBS Group assumed coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Price Performance

NYSE:DOV traded up $0.87 during trading hours on Wednesday, reaching $207.21. The stock had a trading volume of 20,824 shares, compared to its average volume of 954,805. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a 52 week low of $137.73 and a 52 week high of $208.26. The company has a 50 day moving average price of $193.70 and a two-hundred day moving average price of $185.61. The stock has a market capitalization of $28.43 billion, a PE ratio of 18.45, a PEG ratio of 2.76 and a beta of 1.22.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is 18.43%.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’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 transaction of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.