Coastline Trust Co Takes $50,000 Position in Dover Co. (NYSE:DOV)

Coastline Trust Co bought a new stake in shares of Dover Co. (NYSE:DOV) in the 3rd quarter, HoldingsChannel reports. The firm bought 263 shares of the industrial products company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LRI Investments LLC acquired a new position in Dover in the 1st quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in Dover during the 3rd quarter worth about $33,000. McClarren Financial Advisors Inc. raised its holdings in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC bought a new position in Dover during the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover in the second quarter worth about $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred 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 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 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock worth $7,368,578 in the last quarter. 1.30% of the stock is owned by insiders.

Dover Stock Performance

NYSE DOV opened at $201.18 on Friday. The stock has a market capitalization of $27.60 billion, a PE ratio of 17.99, a P/E/G ratio of 2.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The company’s 50 day simple moving average is $191.53 and its two-hundred day simple moving average is $184.71. Dover Co. has a 1 year low of $136.50 and a 1 year high of $204.93.

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 dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. UBS Group began coverage on shares of Dover in a report on Wednesday. They set a “neutral” rating and a $217.00 price target on the stock. Mizuho boosted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer reissued an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

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.