Fulton Bank N.A. Sells 176 Shares of Dover Co. (NYSE:DOV)

Fulton Bank N.A. reduced its stake in Dover Co. (NYSE:DOV) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,274 shares of the industrial products company’s stock after selling 176 shares during the period. Fulton Bank N.A.’s holdings in Dover were worth $427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Dover during the 3rd quarter worth about $33,000. Fairscale Capital LLC bought a new stake in Dover in the second quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new position in Dover in the second quarter valued at approximately $41,000. Avior Wealth Management LLC boosted its holdings in shares of Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after buying an additional 167 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Dover in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DOV shares. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Barclays increased their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Mizuho upped their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $214.18.

Dover Trading Down 2.1 %

NYSE:DOV opened at $183.36 on Friday. The firm’s 50 day moving average is $196.88 and its 200 day moving average is $188.53. Dover Co. has a 12 month low of $143.96 and a 12 month high of $208.26. The stock has a market capitalization of $25.16 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s payout ratio is currently 18.43%.

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.