Dover Co. (NYSE:DOV) Shares Purchased by HM Payson & Co.

HM Payson & Co. grew its stake in shares of Dover Co. (NYSE:DOV) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,824 shares of the industrial products company’s stock after buying an additional 4,861 shares during the quarter. HM Payson & Co. owned about 0.07% of Dover worth $17,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Dover by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after purchasing an additional 60,912 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Interval Partners LP raised its holdings in shares of Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after purchasing an additional 95,056 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,042 shares of company stock worth $7,368,578. Company insiders own 1.30% of the company’s stock.

Dover Stock Performance

NYSE:DOV traded down $0.73 during trading hours on Thursday, hitting $192.26. 13,823 shares of the company traded hands, compared to its average volume of 976,620. The firm has a 50-day moving average of $187.46 and a 200 day moving average of $182.63. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a twelve month low of $127.25 and a twelve month high of $195.68. The stock has a market capitalization of $26.42 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 2.20 and a beta of 1.22.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DOV shares. Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer reissued an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.44.

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.