Dover Co. (NYSE:DOV) Position Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its holdings in Dover Co. (NYSE:DOV) by 41.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,542 shares of the industrial products company’s stock after purchasing an additional 5,421 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Dover were worth $3,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of Dover by 6.3% during the 1st quarter. Sei Investments Co. now owns 60,180 shares of the industrial products company’s stock worth $10,663,000 after acquiring an additional 3,590 shares in the last quarter. Nicolet Advisory Services LLC purchased a new stake in shares of Dover during the first quarter valued at $225,000. Spirepoint Private Client LLC acquired a new position in shares of Dover in the 1st quarter valued at $293,000. TIAA Trust National Association increased its stake in Dover by 14.9% in the 1st quarter. TIAA Trust National Association now owns 6,847 shares of the industrial products company’s stock worth $1,213,000 after purchasing an additional 890 shares in the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in Dover by 33.9% during the 1st quarter. Patten & Patten Inc. TN now owns 3,954 shares of the industrial products company’s stock worth $701,000 after buying an additional 1,000 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of NYSE DOV opened at $201.18 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover Co. has a one year low of $136.50 and a one year high of $204.93. The business’s 50-day moving average price is $191.53 and its two-hundred day moving average price is $184.67. The company has a market capitalization of $27.60 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.74 and a beta of 1.22.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s payout ratio is 18.43%.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’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 value 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 approximately $33,285,578.88. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 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. Over the last quarter, insiders have sold 41,042 shares of company stock worth $7,368,578. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DOV. UBS Group initiated coverage on shares of Dover in a report on Wednesday. They issued a “neutral” rating and a $217.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Mizuho boosted their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

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.