Brown Brothers Harriman & Co. Sells 1,233 Shares of Dover Co. (NYSE:DOV)

Brown Brothers Harriman & Co. reduced its stake in shares of Dover Co. (NYSE:DOV) by 66.4% in the third quarter, Holdings Channel reports. The fund owned 624 shares of the industrial products company’s stock after selling 1,233 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Dover were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of DOV. Janus Henderson Group PLC raised its stake in Dover by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 23,316 shares of the industrial products company’s stock valued at $4,129,000 after acquiring an additional 903 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Dover by 7.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,637 shares of the industrial products company’s stock worth $1,176,000 after buying an additional 470 shares during the period. Tidal Investments LLC grew its stake in Dover by 44.1% in the 1st quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock valued at $1,179,000 after buying an additional 2,038 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in Dover during the 1st quarter valued at $348,000. Finally, LRI Investments LLC purchased a new stake in shares of Dover during the first quarter worth $27,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Mizuho increased their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Up 0.1 %

DOV opened at $206.51 on Friday. The stock has a market cap of $28.33 billion, a PE ratio of 18.47, a P/E/G ratio of 2.76 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a 52 week low of $137.73 and a 52 week high of $208.26. The business’s fifty day simple moving average is $194.46 and its 200 day simple moving average is $185.90.

Dover Dividend Announcement

The firm also recently declared 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. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Insider Activity at Dover

In other Dover 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 value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

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.