Brooklyn Investment Group Makes New Investment in Dover Co. (NYSE:DOV)

Brooklyn Investment Group purchased a new position in Dover Co. (NYSE:DOV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 420 shares of the industrial products company’s stock, valued at approximately $81,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in Dover in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. grew its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Dover in the third quarter worth approximately $33,000. Fairscale Capital LLC bought a new position in Dover during the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Dover in the second quarter valued at approximately $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.1 %

Shares of DOV stock opened at $206.51 on Friday. Dover Co. has a 12 month low of $137.73 and a 12 month high of $208.26. 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 $28.33 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. The stock has a 50 day moving average of $194.46 and a 200-day moving average of $185.90.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group assumed coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

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.