Independent Advisor Alliance Buys 58 Shares of Dover Co. (NYSE:DOV)

Independent Advisor Alliance increased its stake in Dover Co. (NYSE:DOV) by 0.3% in the third quarter, HoldingsChannel reports. The fund owned 18,036 shares of the industrial products company’s stock after purchasing an additional 58 shares during the period. Independent Advisor Alliance’s holdings in Dover were worth $3,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Dover in the 1st quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. lifted its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $41,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.4 %

Shares of NYSE:DOV opened at $205.63 on Tuesday. Dover Co. has a 52-week low of $137.73 and a 52-week high of $207.74. The firm has a market capitalization of $28.21 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.75 and a beta of 1.22. The stock has a 50 day moving average price of $193.70 and a 200-day moving average price of $185.61. 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 Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’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 completion of the sale, 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOV has been the subject of a number of recent analyst reports. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the company 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 target for the company in a research report on Monday, October 28th. Barclays upped their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, UBS Group initiated coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target 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.