CFS Investment Advisory Services LLC Sells 120 Shares of Dover Co. (NYSE:DOV)

CFS Investment Advisory Services LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 13,136 shares of the industrial products company’s stock after selling 120 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Dover were worth $2,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. lifted its position in Dover by 4,400.0% in 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 during the last quarter. Ashton Thomas Securities LLC bought a new stake in Dover during the 3rd quarter valued at $33,000. Fairscale Capital LLC purchased a new stake in shares of Dover during the second quarter worth about $34,000. Finally, Transcendent Capital Group LLC lifted its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 2.2 %

Shares of NYSE DOV opened at $202.46 on Friday. The firm’s 50 day moving average price is $192.93 and its 200-day moving average price is $185.27. Dover Co. has a 52-week low of $137.73 and a 52-week high of $204.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company has a market cap of $27.78 billion, a PE ratio of 18.11, a P/E/G ratio of 2.67 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given 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%.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,706,100. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

About Dover

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.