DRW Securities LLC Makes New Investment in Dover Co. (NYSE:DOV)

DRW Securities LLC purchased a new position in shares of Dover Co. (NYSE:DOV) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,380 shares of the industrial products company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in the business. LRI Investments LLC purchased a new position in Dover in the 1st quarter worth $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $33,000. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Dover during the 2nd quarter worth approximately $41,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 0.0 %

DOV stock opened at $206.44 on Thursday. Dover Co. has a fifty-two week low of $137.73 and a fifty-two week high of $208.26. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. The business’s 50 day moving average price is $194.06 and its two-hundred day moving average price is $185.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57.

Dover Dividend Announcement

The firm 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Analyst Ratings Changes

Several analysts have weighed in on DOV shares. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. UBS Group assumed coverage on shares of Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

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.