Dover Co. (NYSE:DOV) is Parthenon LLC’s 10th Largest Position

Parthenon LLC lifted its position in Dover Co. (NYSE:DOV) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,950 shares of the industrial products company’s stock after acquiring an additional 170 shares during the period. Dover comprises approximately 2.5% of Parthenon LLC’s holdings, making the stock its 10th largest position. Parthenon LLC’s holdings in Dover were worth $20,890,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Dover during the first quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Dover in the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. lifted its position in shares of Dover by 4,400.0% in the second 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 in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Dover during the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Dover during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOV. UBS Group initiated coverage on shares of Dover in a research note on Wednesday. They set a “neutral” rating and a $217.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.40.

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 in the last quarter. Insiders own 1.30% of the company’s stock.

Dover Stock Performance

DOV stock traded up $0.60 during midday trading on Wednesday, hitting $202.95. 64,862 shares of the company traded hands, compared to its average volume of 966,536. The business has a 50 day simple moving average of $189.92 and a 200-day simple moving average of $184.27. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a twelve month low of $133.77 and a twelve month high of $204.93. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover’s dividend payout ratio (DPR) 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.