Citigroup Inc. Trims Position in Dover Co. (NYSE:DOV)

Citigroup Inc. lessened its stake in Dover Co. (NYSE:DOV - Free Report) by 46.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 101,790 shares of the industrial products company's stock after selling 87,488 shares during the period. Citigroup Inc. owned about 0.07% of Dover worth $19,517,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DOV. Janus Henderson Group PLC increased its holdings in Dover by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 23,316 shares of the industrial products company's stock valued at $4,129,000 after purchasing an additional 903 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Dover by 7.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,637 shares of the industrial products company's stock valued at $1,176,000 after purchasing an additional 470 shares during the last quarter. Tidal Investments LLC increased its holdings in Dover by 44.1% in the 1st quarter. Tidal Investments LLC now owns 6,655 shares of the industrial products company's stock valued at $1,179,000 after purchasing an additional 2,038 shares during the last quarter. Hancock Whitney Corp increased its holdings in Dover by 1.5% in the 1st quarter. Hancock Whitney Corp now owns 7,357 shares of the industrial products company's stock valued at $1,304,000 after purchasing an additional 108 shares during the last quarter. Finally, First Western Trust Bank acquired a new stake in Dover in the 1st quarter valued at approximately $214,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company's stock, valued at $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Dover Stock Performance

Shares of DOV stock opened at $206.31 on Wednesday. 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 firm has a fifty day moving average price of $193.70 and a 200 day moving average price of $185.61. The company has a market cap of $28.30 billion, a P/E ratio of 18.45, a PEG ratio of 2.75 and a beta of 1.22. Dover Co. has a 12 month low of $137.73 and a 12 month high of $207.74.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. Dover's dividend payout ratio (DPR) is presently 18.43%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. StockNews.com upgraded shares of Dover from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. UBS Group initiated coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $217.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Dover from $210.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Mizuho boosted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average price target of $208.40.

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.