DekaBank Deutsche Girozentrale Decreases Stock Holdings in Dover Co. (NYSE:DOV)

DekaBank Deutsche Girozentrale lowered its holdings in shares of Dover Co. (NYSE:DOV) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 74,933 shares of the industrial products company’s stock after selling 17,223 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Dover were worth $14,394,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Dover in the 1st quarter valued at about $28,000. McClarren Financial Advisors Inc. lifted its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Dover in the 2nd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the 2nd quarter valued at approximately $41,000. Finally, Transcendent Capital Group LLC raised its holdings in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

DOV opened at $191.84 on Wednesday. The company has a market capitalization of $26.36 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.20 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 12-month low of $127.25 and a 12-month high of $195.68. The business’s fifty day simple moving average is $187.25 and its 200-day simple moving average is $182.56.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Activity

In related 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 $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’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 approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOV shares. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company increased 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. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada increased their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.44.

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.