Prudent Man Advisors LLC Sells 810 Shares of Dover Co. (NYSE:DOV)

Prudent Man Advisors LLC lessened its holdings in Dover Co. (NYSE:DOV) by 17.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,919 shares of the industrial products company’s stock after selling 810 shares during the quarter. Prudent Man Advisors LLC’s holdings in Dover were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DOV. Price T Rowe Associates Inc. MD lifted its stake in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after buying an additional 425,768 shares during the last quarter. Interval Partners LP increased its holdings in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Dover in the 2nd quarter valued at about $17,323,000. Finally, Earnest Partners LLC lifted its holdings in Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Mizuho lifted their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group started coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target for the company. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Stock Performance

NYSE:DOV opened at $201.18 on Monday. Dover Co. has a twelve month low of $136.50 and a twelve month high of $204.93. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $27.60 billion, a P/E ratio of 17.99, a PEG ratio of 2.70 and a beta of 1.22. The business’s 50-day moving average price is $191.53 and its two-hundred day moving average price is $184.76.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover’s payout ratio is presently 18.43%.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’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 completion of the transaction, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’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 sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,042 shares of company stock valued at $7,368,578 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.