Financial Enhancement Group LLC Takes $7.08 Million Position in Dover Co. (NYSE:DOV)

Financial Enhancement Group LLC acquired a new stake in Dover Co. (NYSE:DOV - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,926 shares of the industrial products company's stock, valued at approximately $7,080,000. Dover accounts for approximately 1.3% of Financial Enhancement Group LLC's investment portfolio, making the stock its 24th biggest position.

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of Dover during the 1st quarter worth $27,000. McClarren Financial Advisors Inc. grew its stake in shares of Dover by 4,400.0% during 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. Fairscale Capital LLC bought a new position in shares of Dover during the 2nd quarter worth $34,000. Transcendent Capital Group LLC grew its stake in shares of Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company's stock worth $41,000 after acquiring an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the 2nd quarter worth $41,000. Institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of DOV traded down $0.80 during trading hours on Thursday, reaching $201.76. 706,217 shares of the company's stock traded hands, compared to its average volume of 974,779. The stock has a market cap of $27.68 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.54 and a beta of 1.22. 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's 50 day simple moving average is $188.43 and its 200-day simple moving average is $183.42. Dover Co. has a 12 month low of $129.63 and a 12 month high of $204.05.

Dover Announces Dividend

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 given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover's dividend payout ratio (DPR) is presently 18.43%.

Insider Buying and Selling

In related 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Dover 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business's stock in a transaction that occurred 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 owns 47,060 shares of the company's stock, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock worth $7,368,578 in the last quarter. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Dover from $192.00 to $193.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Barclays raised their target price on Dover from $186.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on 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 downgraded Dover from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Wolfe Research upgraded Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $207.44.

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.