abrdn plc Reduces Holdings in Dover Co. (NYSE:DOV)

abrdn plc reduced its holdings in shares of Dover Co. (NYSE:DOV) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,156 shares of the industrial products company’s stock after selling 2,750 shares during the period. abrdn plc’s holdings in Dover were worth $9,965,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Dover by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 379,103 shares of the industrial products company’s stock worth $67,173,000 after purchasing an additional 3,620 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of Dover by 14.8% in the first quarter. First Trust Direct Indexing L.P. now owns 2,157 shares of the industrial products company’s stock worth $382,000 after buying an additional 278 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Dover by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,286 shares of the industrial products company’s stock valued at $4,835,000 after buying an additional 2,387 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Dover by 27.4% during the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock valued at $29,451,000 after acquiring an additional 35,750 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Dover by 82.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,254 shares of the industrial products company’s stock worth $931,000 after acquiring an additional 2,369 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, 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 note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.44.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,042 shares of company stock valued at $7,368,578. 1.30% of the stock is owned by corporate insiders.

Dover Stock Performance

NYSE DOV opened at $189.11 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover Co. has a 1-year low of $129.63 and a 1-year high of $195.68. The business has a 50 day simple moving average of $187.71 and a two-hundred day simple moving average of $182.81. The stock has a market capitalization of $25.94 billion, a PE ratio of 16.92, a P/E/G ratio of 2.59 and a beta of 1.22.

Dover Company 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.