Brown Brothers Harriman & Co. Has $120,000 Position in Dover Co. (NYSE:DOV)

Brown Brothers Harriman & Co. cut its holdings in shares of Dover Co. (NYSE:DOV) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 624 shares of the industrial products company’s stock after selling 1,233 shares during the period. Brown Brothers Harriman & Co.’s holdings in Dover were worth $120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in shares of Dover during the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised its holdings in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Dover in the 3rd quarter worth approximately $33,000. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover during the second quarter worth $41,000. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of NYSE:DOV opened at $206.51 on Friday. Dover Co. has a 1-year low of $137.73 and a 1-year high of $208.26. 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 stock 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’s fifty day simple moving average is $194.46 and its two-hundred day simple moving average is $185.90.

Dover Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on DOV. JPMorgan Chase & Co. lifted their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Barclays increased their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

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.