Dover Co. (NYSE:DOV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in Dover Co. (NYSE:DOV) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,609 shares of the industrial products company’s stock after selling 1,891 shares during the quarter. PNC Financial Services Group Inc. owned 0.14% of Dover worth $35,780,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its stake in Dover by 975.5% during the first quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after purchasing an additional 22,572 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Dover by 1,414.2% in the 2nd quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after buying an additional 3,974 shares during the period. Swedbank AB bought a new stake in shares of Dover during the 1st quarter valued at about $1,581,000. QRG Capital Management Inc. raised its stake in Dover by 10.8% during the second quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock worth $5,643,000 after acquiring an additional 3,051 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Dover by 153.7% in the first 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 acquiring an additional 1,595,611 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated 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 approximately $8,706,100. This represents a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover 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 completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, 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 corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DOV shares. Mizuho upped their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed 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. Royal Bank of Canada boosted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price target 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. Finally, Barclays lifted their price objective on shares of 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 eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Dover Stock Down 0.3 %

DOV stock opened at $198.13 on Thursday. The firm’s 50-day moving average is $192.61 and its two-hundred day moving average is $185.15. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover Co. has a 52 week low of $137.38 and a 52 week high of $204.93.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. Dover’s dividend payout ratio (DPR) is 18.43%.

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.