Oppenheimer & Co. Inc. Boosts Holdings in Dover Co. (NYSE:DOV)

Oppenheimer & Co. Inc. raised its holdings in Dover Co. (NYSE:DOV - Free Report) by 41.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,542 shares of the industrial products company's stock after purchasing an additional 5,421 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Dover were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in Dover during the first quarter worth about $27,000. McClarren Financial Advisors Inc. grew its holdings in shares of Dover by 4,400.0% in the 2nd 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. Ashton Thomas Securities LLC purchased a new position in Dover in the 3rd quarter valued at approximately $33,000. Fairscale Capital LLC acquired a new position in Dover during the second quarter worth $34,000. Finally, Transcendent Capital Group LLC boosted its position in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company's stock worth $41,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 25,004 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares of the company's stock, valued at approximately $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,042 shares of company stock valued at $7,368,578. Insiders own 1.30% of the company's stock.

Dover Trading Down 0.5 %

DOV traded down $0.91 during midday trading on Friday, hitting $201.18. The company's stock had a trading volume of 678,654 shares, compared to its average volume of 965,221. Dover Co. has a 52-week low of $136.50 and a 52-week high of $204.93. The firm has a 50-day moving average price of $191.53 and a two-hundred day moving average price of $184.71. 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 market cap of $27.60 billion, a P/E ratio of 17.99, a PEG ratio of 2.74 and a beta of 1.22.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. Dover's payout ratio is 18.43%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Oppenheimer restated an "outperform" rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. UBS Group assumed coverage on shares of Dover in a research report on Wednesday. They issued a "neutral" rating and a $217.00 price target on the stock. Barclays increased their target price on Dover from $186.00 to $190.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird reissued an "outperform" rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $208.40.

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.