HM Payson & Co. Buys 4,861 Shares of Dover Co. (NYSE:DOV)

HM Payson & Co. boosted its stake in shares of Dover Co. (NYSE:DOV) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,824 shares of the industrial products company’s stock after purchasing an additional 4,861 shares during the quarter. HM Payson & Co.’s holdings in Dover were worth $17,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its position in Dover by 5.4% during the third quarter. New York State Teachers Retirement System now owns 144,752 shares of the industrial products company’s stock worth $27,755,000 after purchasing an additional 7,478 shares during the period. Valmark Advisers Inc. boosted its position in Dover by 5.0% during the third quarter. Valmark Advisers Inc. now owns 4,161 shares of the industrial products company’s stock worth $798,000 after purchasing an additional 199 shares during the period. Strategic Blueprint LLC bought a new position in Dover during the third quarter worth $204,000. Pallas Capital Advisors LLC lifted its holdings in shares of Dover by 1.6% during the third quarter. Pallas Capital Advisors LLC now owns 50,417 shares of the industrial products company’s stock worth $9,316,000 after buying an additional 787 shares in the last quarter. Finally, Custom Index Systems LLC lifted its holdings in shares of Dover by 91.0% during the third quarter. Custom Index Systems LLC now owns 7,791 shares of the industrial products company’s stock worth $1,494,000 after buying an additional 3,713 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Down 0.4 %

Shares of NYSE:DOV traded down $0.73 during mid-day trading on Thursday, hitting $192.26. The company had a trading volume of 13,823 shares, compared to its average volume of 976,620. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The firm has a fifty day moving average price of $187.46 and a 200 day moving average price of $182.63. Dover Co. has a one year low of $127.25 and a one year high of $195.68. The company has a market capitalization of $26.42 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DOV shares. Barclays lifted their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Mizuho boosted their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.44.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the 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 completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,042 shares of company stock worth $7,368,578. Company insiders own 1.30% of the company’s stock.

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.