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

American Trust trimmed its position in Dover Co. (NYSE:DOV - Free Report) by 18.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,077 shares of the industrial products company's stock after selling 3,213 shares during the period. American Trust's holdings in Dover were worth $2,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOV. McClarren Financial Advisors Inc. boosted its stake in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Dover during the 3rd quarter valued at $33,000. Fairscale Capital LLC bought a new stake in Dover during the 2nd quarter valued at $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Dover during the 2nd quarter valued at $41,000. Finally, Avior Wealth Management LLC raised 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 valued at $49,000 after acquiring an additional 167 shares during the period. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DOV shares. Oppenheimer reaffirmed an "outperform" rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday. Citigroup upped their price target on shares of Dover from $226.00 to $236.00 and gave the stock a "buy" rating in a report on Monday. 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 report on Monday, October 28th. Finally, UBS Group assumed coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 target price for the company. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of "Moderate Buy" and an average price target of $213.91.

Dover Stock Performance

DOV stock traded down $0.35 on Friday, hitting $201.01. The company had a trading volume of 687,306 shares, compared to its average volume of 937,939. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The stock's 50-day simple moving average is $197.08 and its 200 day simple moving average is $187.28. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover's dividend payout ratio 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.