Court Place Advisors LLC Sells 199 Shares of Dover Co. (NYSE:DOV)

Court Place Advisors LLC trimmed its position in shares of Dover Co. (NYSE:DOV) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,491 shares of the industrial products company’s stock after selling 199 shares during the quarter. Court Place Advisors LLC’s holdings in Dover were worth $2,778,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DOV. Valmark Advisers Inc. grew its holdings in Dover by 1.6% during the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares during the period. Mather Group LLC. lifted its position in shares of Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after buying an additional 71 shares during the last quarter. PFG Investments LLC grew its stake in shares of Dover by 3.9% during the 2nd quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 74 shares during the period. Bill Few Associates Inc. grew its stake in shares of Dover by 3.6% during the 3rd quarter. Bill Few Associates Inc. now owns 2,325 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 80 shares during the period. Finally, CX Institutional increased its holdings in Dover by 1.7% in the 2nd quarter. CX Institutional now owns 5,095 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 87 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays lifted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. 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. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, Mizuho boosted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Price Performance

NYSE DOV traded up $2.94 during trading on Friday, reaching $187.72. The company’s stock had a trading volume of 161,291 shares, compared to its average volume of 975,222. The firm has a fifty day moving average of $186.66 and a 200 day moving average of $182.12. Dover Co. has a one year low of $127.25 and a one year high of $195.68. The stock has a market capitalization of $25.80 billion, a PE ratio of 17.74, a P/E/G ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last announced its earnings results on Thursday, October 24th. The industrial products company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Analysts expect that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is currently 19.79%.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated 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 directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction 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 completion of the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

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.