Pathstone Holdings LLC Increases Position in Dover Co. (NYSE:DOV)

Pathstone Holdings LLC grew its stake in Dover Co. (NYSE:DOV) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,356 shares of the industrial products company’s stock after acquiring an additional 288 shares during the quarter. Pathstone Holdings LLC’s holdings in Dover were worth $4,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers increased its holdings in shares of Dover by 975.5% in the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after acquiring an additional 22,572 shares during the period. ORG Partners LLC increased its holdings in shares of Dover by 1,414.2% in the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after acquiring an additional 3,974 shares during the period. Swedbank AB purchased a new position in shares of Dover in the 1st quarter valued at $1,581,000. QRG Capital Management Inc. increased its holdings in shares of Dover by 10.8% in the 2nd quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 3,051 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 acquiring an additional 1,595,611 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOV shares. UBS Group started coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective for the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised their price objective 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, Barclays raised their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $204.74 on Friday. The stock has a 50-day moving average of $193.32 and a two-hundred day moving average of $185.46. Dover Co. has a one year low of $137.73 and a one year high of $205.06. 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 stock has a market cap of $28.09 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.72 and a beta of 1.22.

Dover Announces Dividend

The business 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 dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. Dover’s payout ratio is currently 18.43%.

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.