Foster & Motley Inc. Sells 73 Shares of Dover Co. (NYSE:DOV)

Foster & Motley Inc. lessened its stake in Dover Co. (NYSE:DOV) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,434 shares of the industrial products company’s stock after selling 73 shares during the period. Foster & Motley Inc.’s holdings in Dover were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DOV. Clarity Financial LLC purchased a new stake in Dover during the third quarter valued at $210,000. Hazlett Burt & Watson Inc. increased its position in shares of Dover by 1,176.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 4,340 shares of the industrial products company’s stock valued at $832,000 after purchasing an additional 4,000 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Dover by 2.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 53,618 shares of the industrial products company’s stock worth $10,281,000 after purchasing an additional 1,379 shares during the period. QRG Capital Management Inc. grew its position in Dover by 75.0% during the third quarter. QRG Capital Management Inc. now owns 54,725 shares of the industrial products company’s stock valued at $10,493,000 after buying an additional 23,451 shares during the period. Finally, National Pension Service increased its holdings in Dover by 3.0% during the third quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock valued at $41,418,000 after buying an additional 6,241 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of DOV stock opened at $201.76 on Friday. The company has a market capitalization of $27.68 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.54 and a beta of 1.22. The company’s 50-day simple moving average is $188.80 and its two-hundred day simple moving average is $183.55. Dover Co. has a one year low of $129.63 and a one year high of $204.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

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 dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DOV shares. Wells Fargo & Company lifted their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Mizuho raised their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Finally, Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $207.44.

Insiders Place Their Bets

In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is currently owned by company insiders.

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.