Huntington National Bank Sells 111 Shares of Dover Co. (NYSE:DOV)

Huntington National Bank reduced its position in shares of Dover Co. (NYSE:DOV) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,319 shares of the industrial products company’s stock after selling 111 shares during the quarter. Huntington National Bank’s holdings in Dover were worth $4,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Dover during the first quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its holdings in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Ashton Thomas Securities LLC bought a new position in Dover during the 3rd quarter valued at approximately $33,000. Fairscale Capital LLC purchased a new stake in Dover in the 2nd quarter worth approximately $34,000. Finally, Transcendent Capital Group LLC grew its position in shares of Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

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 shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The trade was a 54.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,042 shares of company stock worth $7,368,578. 1.30% of the stock is owned by insiders.

Dover Price Performance

Shares of DOV opened at $202.04 on Friday. The firm’s 50-day simple moving average is $191.02 and its two-hundred day simple moving average is $184.53. Dover Co. has a fifty-two week low of $136.13 and a fifty-two week high of $204.93. The stock has a market cap of $27.72 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22. 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 Announces Dividend

The business 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 dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

A number of brokerages recently commented on DOV. JPMorgan Chase & Co. upped their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. 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. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company boosted 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. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Monday, October 28th. Four investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.40.

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.