L & S Advisors Inc Boosts Holdings in Dover Co. (NYSE:DOV)

L & S Advisors Inc grew its holdings in Dover Co. (NYSE:DOV) by 23.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,105 shares of the industrial products company’s stock after purchasing an additional 8,791 shares during the quarter. L & S Advisors Inc’s holdings in Dover were worth $8,840,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC lifted its stake in Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 60 shares during the last quarter. Valmark Advisers Inc. lifted its stake in Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 63 shares during the last quarter. Mather Group LLC. lifted its stake in Dover by 2.3% in the second quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 71 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Dover by 3.7% in the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 73 shares during the last quarter. Finally, PFG Investments LLC lifted its position in shares of Dover by 3.9% during the 2nd quarter. PFG Investments LLC now owns 1,951 shares of the industrial products company’s stock worth $352,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DOV shares. Oppenheimer restated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Barclays boosted their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. UBS Group began coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. Finally, Mizuho lifted their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Price Performance

Dover stock opened at $198.13 on Thursday. Dover Co. has a 52 week low of $137.38 and a 52 week high of $204.93. 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 simple moving average is $192.61 and its 200 day simple moving average is $185.15. The firm has a market capitalization of $27.18 billion, a PE ratio of 17.72, a P/E/G ratio of 2.67 and a beta of 1.22.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 1.04%. Dover’s dividend payout ratio is presently 18.43%.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction 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. This represents a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the 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 directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by 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.