Brendel Financial Advisors LLC acquires 17,685 shares of Dover Co. (NYSE: DOV)

Brendel Financial Advisors LLC raised its holdings in shares of Dover Co. (NYSE:DOV – Free Report) by 347.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,772 shares of the industrial products company’s stock after acquiring an additional 17,685 shares during the quarter. Dover comprises about 2.5% of Brendel Financial Advisors LLC’s holdings, making the stock its 6th largest position. Brendel Financial Advisors LLC’s holdings in Dover were worth $4,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares during the period. Wellington Management Group LLP boosted its holdings in Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares in the last quarter. American Century Companies Inc. grew its position in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the period. Finally, Interval Partners LP grew its stake in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Institutional investors own 84.46% of the company’s shares.

Analyst upgrades and downgrades

DOV has been the subject of several research analyst reports. Wolfe Research upgraded Dover to a “hold” rating in a report on Friday, September 20th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Barclays raised their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Mizuho boosted their target price on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, the 26th July. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.00, according to MarketBeat.com.

Check out our latest research report on Dover

Buying and selling inside Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The trade was a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 approximately $8,706,100. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’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 transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The trade was a 0.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of shares are currently owned by company insiders.

Trading at Dover up 0.5%

NYSE DOV traded up $0.99 on Thursday, hitting $187.07. 1,044,735 shares of the stock exchanged hands, compared to its average volume of 970,801. The company’s 50-day moving average price is $183.24, and its two-hundred-day moving average price is $180.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53, and a quick ratio of 0.95. Dover Co. it has a 52-week low of $127.25 and a 52-week high of $194.75. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV – Get Your Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. In the same period last year, the firm earned $2.05 per share. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts predict that Dover Co. will post 9.17 EPS for the current year.

Dover increases dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. The ex-dividend date was Friday, August 30. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a dividend of $2.06 on an annualized basis and a yield of 1.10%. Dover’s payout rate is currently 19.79%.

About Dover

(Free report)

Dover Corporation provides equipment and components, supplies, aftermarket parts, software and digital solutions and support services worldwide. The company’s Engineering Products segment offers various equipment, components, software, solutions and services that are used in the vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist and fluid distribution end markets.

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