Bank of Montreal Can Sells 5,322 Shares of Dover Co. (NYSE:DOV)

Bank of Montreal Can trimmed its stake in Dover Co. (NYSE:DOV - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,842 shares of the industrial products company's stock after selling 5,322 shares during the quarter. Bank of Montreal Can owned 0.11% of Dover worth $28,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings 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 purchasing an additional 425,768 shares in the last quarter. Interval Partners LP lifted its position in shares of Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company's stock worth $105,216,000 after buying an additional 305,436 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Dover during the 2nd quarter worth about $17,323,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Dover by 153.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,569 shares of the industrial products company's stock valued at $26,990,000 after acquiring an additional 90,480 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Dover in the 3rd quarter valued at approximately $14,459,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE:DOV traded down $0.61 during midday trading on Friday, reaching $205.90. 304,499 shares of the company's stock were exchanged, compared to its average volume of 953,967. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company's 50 day simple moving average is $195.11 and its two-hundred day simple moving average is $186.20. Dover Co. has a 12 month low of $139.93 and a 12 month high of $208.26. The firm has a market capitalization of $28.25 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.77 and a beta of 1.22.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. Dover's dividend payout ratio is currently 18.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DOV shares. StockNews.com raised shares of Dover from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. UBS Group assumed coverage on shares of Dover in a report on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Dover from $210.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Barclays lifted their price objective on Dover from $186.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Finally, Oppenheimer restated an "outperform" rating and set 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company's stock, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.