American Trust Sells 3,213 Shares of Dover Co. (NYSE:DOV)

American Trust trimmed its stake in shares of Dover Co. (NYSE:DOV) by 18.6% 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 14,077 shares of the industrial products company’s stock after selling 3,213 shares during the quarter. American Trust’s holdings in Dover were worth $2,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Dover during the 3rd quarter worth about $33,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares during the period. Fairscale Capital LLC acquired a new position in shares of Dover in the second quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the second quarter worth approximately $41,000. Finally, Avior Wealth Management LLC lifted its holdings in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Barclays raised their price target on shares of Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Citigroup boosted their price objective on shares of Dover from $226.00 to $236.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased 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. Finally, The Goldman Sachs Group lifted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.91.

Dover Stock Performance

NYSE:DOV opened at $201.36 on Friday. 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 firm has a market capitalization of $27.62 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover Co. has a twelve month low of $143.96 and a twelve month high of $208.26. The stock’s 50-day simple moving average is $197.08 and its 200 day simple moving average is $187.28.

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 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s payout ratio is 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.