Raymond James & Associates Sells 852 Shares of Dover Co. (NYSE:DOV)

Raymond James & Associates cut its holdings in Dover Co. (NYSE:DOV) by 0.7% in the third quarter, HoldingsChannel reports. The firm owned 126,830 shares of the industrial products company’s stock after selling 852 shares during the quarter. Raymond James & Associates’ holdings in Dover were worth $24,318,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Citizens Bank & Trust Co. raised its position in shares of Dover by 3.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,624 shares of the industrial products company’s stock valued at $887,000 after buying an additional 168 shares in the last quarter. Blue Trust Inc. raised its position in Dover by 57.9% during the third quarter. Blue Trust Inc. now owns 3,228 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 1,184 shares during the period. Aaron Wealth Advisors LLC bought a new stake in shares of Dover in the 3rd quarter valued at approximately $221,000. V Square Quantitative Management LLC increased its position in shares of Dover by 19.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,643 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 586 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Dover by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,170 shares of the industrial products company’s stock valued at $4,059,000 after buying an additional 398 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 3.6 %

Shares of NYSE DOV opened at $184.70 on Friday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $195.68. The firm has a market cap of $25.38 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The business has a fifty day simple moving average of $186.66 and a two-hundred day simple moving average of $182.12. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that Dover Co. will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. 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 presently 19.79%.

Analyst Ratings Changes

Several research analysts have commented on DOV shares. Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Wolfe Research upgraded Dover to a “hold” rating in a research report on Friday, September 20th. Oppenheimer reiterated 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, Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.75.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated 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 owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,383 shares of company stock worth $8,169,883. 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.