Ashton Thomas Securities LLC Acquires Shares of 173 Dover Co. (NYSE:DOV)

Ashton Thomas Securities LLC bought a new position in shares of Dover Co. (NYSE:DOV) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 173 shares of the industrial products company’s stock, valued at approximately $33,000.

Several other institutional investors also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. boosted its holdings in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Dover during the second quarter valued at $34,000. Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover in the second quarter worth about $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group began coverage on Dover in a research note on Wednesday. They issued a “neutral” rating and a $217.00 price target for the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Stock Performance

NYSE:DOV opened at $202.04 on Friday. Dover Co. has a twelve month low of $136.13 and a twelve month high of $204.93. The company has a market cap of $27.72 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.72 and a beta of 1.22. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $191.02 and its 200-day moving average price is $184.53.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,042 shares of company stock valued at $7,368,578. 1.30% of the stock is currently owned by insiders.

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.