Patton Albertson Miller Group LLC Increases Stock Position in Dover Co. (NYSE:DOV)

Patton Albertson Miller Group LLC grew its position in shares of Dover Co. (NYSE:DOV) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,121 shares of the industrial products company’s stock after purchasing an additional 215 shares during the period. Patton Albertson Miller Group LLC’s holdings in Dover were worth $3,858,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DOV. LRI Investments LLC bought a new stake in Dover in the 1st quarter worth approximately $28,000. Janus Henderson Group PLC increased its position in Dover by 4.0% in the first quarter. Janus Henderson Group PLC now owns 23,316 shares of the industrial products company’s stock worth $4,129,000 after purchasing an additional 903 shares during the last quarter. Dynasty Wealth Management LLC purchased a new stake in Dover during the first quarter valued at $440,000. B. Riley Wealth Advisors Inc. lifted its position in Dover by 7.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,637 shares of the industrial products company’s stock valued at $1,176,000 after purchasing an additional 470 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Dover by 44.1% in the 1st quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company’s stock worth $1,179,000 after buying an additional 2,038 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Insider Activity at Dover

In other news, 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 owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on DOV shares. Mizuho increased their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. 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 report on Monday, October 28th. Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Stock Up 0.4 %

Shares of NYSE DOV opened at $205.63 on Tuesday. The stock has a 50 day moving average price of $193.70 and a 200 day moving average price of $185.61. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.75 and a beta of 1.22. Dover Co. has a 52-week low of $137.73 and a 52-week high of $207.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Announces Dividend

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

Dover 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.