Hancock Whitney Corp Raises Stock Position in Dover Co. (NYSE:DOV)

Hancock Whitney Corp boosted its position in shares of Dover Co. (NYSE:DOV) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,486 shares of the industrial products company’s stock after acquiring an additional 232 shares during the period. Hancock Whitney Corp’s holdings in Dover were worth $1,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of Dover during the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. increased its position in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Dover in the third quarter valued at about $33,000. Fairscale Capital LLC acquired a new stake in Dover in the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover during the second quarter worth about $41,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Barclays upped their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group assumed coverage on Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, 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. Company insiders own 1.30% of the company’s stock.

Dover Stock Up 0.4 %

Shares of DOV opened at $205.63 on Tuesday. The stock’s 50-day moving average price is $193.70 and its 200-day moving average price is $185.61. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $28.21 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22. Dover Co. has a 52 week low of $137.73 and a 52 week high of $207.74.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. Dover’s payout ratio is 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.