Avestar Capital LLC Boosts Stock Holdings in Dover Co. (NYSE:DOV)

Avestar Capital LLC boosted its position in Dover Co. (NYSE:DOV) by 7.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,846 shares of the industrial products company’s stock after purchasing an additional 208 shares during the period. Avestar Capital LLC’s holdings in Dover were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Interval Partners LP raised its position in shares of Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares during the period. FMR LLC boosted its holdings in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after buying an additional 149,378 shares during the period. Kimelman & Baird LLC bought a new stake in Dover during the 2nd quarter valued at $17,323,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Dover by 153.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,569 shares of the industrial products company’s stock worth $26,990,000 after acquiring an additional 90,480 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, 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. Company insiders own 1.30% of the company’s stock.

Dover Trading Up 0.4 %

Shares of DOV stock opened at $206.31 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $28.30 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. The business has a 50-day moving average price of $193.70 and a two-hundred day moving average price of $185.61. Dover Co. has a 12-month low of $137.73 and a 12-month high of $207.74.

Dover Announces Dividend

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 paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Analyst Ratings Changes

DOV has been the topic of a number of analyst reports. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, Barclays raised their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.40.

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.