Prospera Financial Services Inc Purchases New Position in Dover Co. (NYSE:DOV)

Prospera Financial Services Inc purchased a new stake in Dover Co. (NYSE:DOV) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,370 shares of the industrial products company’s stock, valued at approximately $263,000.

A number of other hedge funds have also modified their holdings of DOV. LRI Investments LLC acquired a new stake in shares of Dover in the 1st quarter valued at approximately $28,000. Janus Henderson Group PLC raised its position in shares of Dover by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 23,316 shares of the industrial products company’s stock valued at $4,129,000 after acquiring an additional 903 shares during the period. Dynasty Wealth Management LLC acquired a new stake in shares of Dover in the 1st quarter valued at approximately $440,000. B. Riley Wealth Advisors Inc. raised its position in shares of Dover by 7.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,637 shares of the industrial products company’s stock valued at $1,176,000 after acquiring an additional 470 shares during the period. Finally, Tidal Investments LLC increased its stake in Dover by 44.1% during the 1st quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock worth $1,179,000 after purchasing an additional 2,038 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction 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 $8,706,100. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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 note on Monday, October 28th. Wells Fargo & Company increased their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. UBS Group assumed coverage on Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Finally, Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Trading Up 0.4 %

NYSE DOV opened at $205.63 on Tuesday. The company has a market cap of $28.21 billion, a PE ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22. 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 Co. has a 12 month low of $137.73 and a 12 month high of $207.74. The stock has a 50 day moving average of $193.70 and a 200-day moving average of $185.61.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued 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 payout ratio is presently 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.