M&T Bank Corp Reduces Holdings in Dover Co. (NYSE:DOV)

M&T Bank Corp trimmed its stake in Dover Co. (NYSE:DOV - Free Report) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,227 shares of the industrial products company's stock after selling 9,866 shares during the quarter. M&T Bank Corp owned approximately 0.09% of Dover worth $23,820,000 as of its most recent filing with the Securities & Exchange Commission.

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

Dover Trading Down 0.1 %

Shares of Dover stock traded down $0.17 during trading on Wednesday, reaching $201.14. The company's stock had a trading volume of 513,950 shares, compared to its average volume of 940,543. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.71 and a beta of 1.22. 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's 50-day moving average is $196.85 and its two-hundred day moving average is $187.18. Dover Co. has a 52-week low of $143.96 and a 52-week high of $208.26.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 1.02%. Dover's dividend payout ratio is 18.43%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DOV shares. Barclays upped their price target on shares of Dover from $190.00 to $205.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday. Citigroup upped their price target on shares of Dover from $226.00 to $236.00 and gave the company a "buy" rating in a research note on Monday. Oppenheimer reaffirmed an "outperform" rating and set a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Finally, Wolfe Research raised shares of Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.00.

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.