Prudent Man Advisors LLC Sells 810 Shares of Dover Co. (NYSE:DOV)

Prudent Man Advisors LLC reduced its position in shares of Dover Co. (NYSE:DOV) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,919 shares of the industrial products company’s stock after selling 810 shares during the period. Prudent Man Advisors LLC’s holdings in Dover were worth $751,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its position in Dover by 0.3% in the third quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock valued at $78,211,000 after purchasing an additional 1,100 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Dover by 4.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 43,871 shares of the industrial products company’s stock valued at $8,412,000 after acquiring an additional 1,966 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Dover by 328.7% during the third quarter. Mizuho Securities USA LLC now owns 45,451 shares of the industrial products company’s stock valued at $8,715,000 after acquiring an additional 34,850 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Dover during the third quarter worth $50,000. Finally, Empowered Funds LLC increased its holdings in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after purchasing an additional 4,629 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DOV shares. 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. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Down 0.5 %

Shares of NYSE:DOV opened at $201.18 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93. The business’s 50 day simple moving average is $191.53 and its two-hundred day simple moving average is $184.76. The firm has a market cap of $27.60 billion, a P/E ratio of 17.99, a PEG ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

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

Insider Buying and Selling at Dover

In other 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 owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,042 shares of company stock valued at $7,368,578. Corporate insiders own 1.30% of the company’s stock.

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.