First City Capital Management Inc. Sells 351 Shares of Dover Co. (NYSE:DOV)

First City Capital Management Inc. reduced its holdings in shares of Dover Co. (NYSE:DOV) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 3,238 shares of the industrial products company’s stock after selling 351 shares during the period. First City Capital Management Inc.’s holdings in Dover were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Dover during the first quarter valued at $28,000. Ashton Thomas Securities LLC bought a new position in shares of Dover during the third quarter valued at $33,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new position in Dover in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Dover in the second quarter valued at about $41,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group started coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price objective on the stock. Barclays raised their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This represents a 12.03 % 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 corporate insiders.

Dover Stock Performance

NYSE:DOV opened at $200.53 on Tuesday. 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 $136.50 and a 12-month high of $204.93. The stock has a 50-day moving average price of $191.96 and a 200 day moving average price of $184.92. The stock has a market capitalization of $27.51 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The company also recently declared 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. This represents a $2.06 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is presently 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.