Harris Associates L P Reduces Holdings in Dover Co. (NYSE:DOV)

Harris Associates L P decreased its holdings in shares of Dover Co. (NYSE:DOV) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,070 shares of the industrial products company’s stock after selling 700 shares during the quarter. Harris Associates L P’s holdings in Dover were worth $2,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOV. McClarren Financial Advisors Inc. raised its holdings 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 buying an additional 176 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Dover in the 3rd quarter valued at approximately $33,000. Fairscale Capital LLC acquired a new stake in Dover during the second quarter worth about $34,000. Ashton Thomas Private Wealth LLC acquired a new position in Dover in the second quarter valued at about $41,000. Finally, Avior Wealth Management LLC lifted its position in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $204.79 on Tuesday. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a 52 week low of $141.18 and a 52 week high of $208.26. The firm has a 50 day moving average of $195.11 and a 200-day moving average of $186.22.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 1.01%. Dover’s payout ratio is currently 18.43%.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction 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. The trade was a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOV has been the topic of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Mizuho increased their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Oppenheimer restated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

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.