First Commonwealth Financial Corp PA Has $663,000 Stake in Dover Co. (NYSE:DOV)

First Commonwealth Financial Corp PA boosted its position in shares of Dover Co. (NYSE:DOV) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,459 shares of the industrial products company’s stock after buying an additional 73 shares during the period. First Commonwealth Financial Corp PA’s holdings in Dover were worth $663,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DOV. Janus Henderson Group PLC lifted its holdings in shares of 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 acquiring an additional 903 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Dover by 7.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,637 shares of the industrial products company’s stock worth $1,176,000 after buying an additional 470 shares during the period. Tidal Investments LLC boosted its position in Dover by 44.1% during 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 during the period. Hancock Whitney Corp boosted its position in Dover by 1.5% during the 1st quarter. Hancock Whitney Corp now owns 7,357 shares of the industrial products company’s stock worth $1,304,000 after buying an additional 108 shares during the period. Finally, First Western Trust Bank acquired a new stake in Dover during the 1st quarter worth approximately $214,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 54.59 % 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 company insiders.

Analysts Set New Price Targets

Several research firms recently commented on DOV. JPMorgan Chase & Co. lifted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, UBS Group started coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Stock Up 0.4 %

DOV stock traded up $0.87 during midday trading on Wednesday, reaching $207.21. 20,824 shares of the company’s stock traded hands, compared to its average volume of 954,805. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.76 and a beta of 1.22. The firm’s fifty day moving average price is $193.70 and its 200-day moving average price is $185.61. 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 $137.73 and a 52 week high of $208.26.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 0.99%. Dover’s dividend payout ratio (DPR) is presently 18.43%.

About Dover

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.