PNC Financial Services Group Inc. Has $35.78 Million Holdings in Dover Co. (NYSE:DOV)

PNC Financial Services Group Inc. trimmed its position in Dover Co. (NYSE:DOV) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 186,609 shares of the industrial products company’s stock after selling 1,891 shares during the period. PNC Financial Services Group Inc.’s holdings in Dover were worth $35,780,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Dover in the 1st quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the third quarter valued at $33,000. McClarren Financial Advisors Inc. boosted its position in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares during the period. Fairscale Capital LLC acquired a new position in Dover during the second quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Dover in the 2nd quarter worth about $41,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction 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 in the company, valued at $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DOV shares. Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Finally, Oppenheimer reissued 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Trading Down 0.3 %

Dover stock opened at $198.13 on Thursday. Dover Co. has a one year low of $137.38 and a one year high of $204.93. The company’s fifty day moving average price is $192.61 and its two-hundred day moving average price is $185.15. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06.

Dover Announces Dividend

The business also recently disclosed 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

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.