Dover Co. (NYSE:DOV) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co decreased its stake in shares of Dover Co. (NYSE:DOV) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,613 shares of the industrial products company’s stock after selling 954 shares during the quarter. Fiduciary Trust Co’s holdings in Dover were worth $6,637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DOV. Cetera Investment Advisers boosted its position in Dover by 975.5% in the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after buying an additional 22,572 shares during the last quarter. ORG Partners LLC lifted its position in Dover by 1,414.2% during the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after purchasing an additional 3,974 shares during the period. Swedbank AB purchased a new stake in Dover in the first quarter valued at $1,581,000. QRG Capital Management Inc. grew its position in Dover by 10.8% during the 2nd quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock worth $5,643,000 after purchasing an additional 3,051 shares during the period. Finally, Versor Investments LP acquired a new position in shares of Dover in the 3rd quarter valued at about $1,920,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on DOV. JPMorgan Chase & Co. raised their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays lifted their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Price Performance

NYSE:DOV opened at $206.51 on Friday. The firm has a market cap of $28.33 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. The stock has a 50 day moving average of $194.46 and a two-hundred day moving average of $185.90. Dover Co. has a 12 month low of $137.73 and a 12 month high of $208.26. 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 will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

About Dover

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.