Empower Advisory Group LLC Raises Stock Holdings in Dover Co. (NYSE:DOV)

Empower Advisory Group LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,030 shares of the industrial products company’s stock after buying an additional 73 shares during the quarter. Empower Advisory Group LLC’s holdings in Dover were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. LRI Investments LLC purchased a new position in shares of Dover during the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. lifted its stake in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Dover during the third quarter worth $33,000. Fairscale Capital LLC purchased a new stake in shares of Dover in the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC lifted its stake in 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 in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 1.0 %

NYSE DOV opened at $202.04 on Friday. The firm’s fifty day moving average price is $191.02 and its 200 day moving average price is $184.53. Dover Co. has a 12 month low of $136.13 and a 12 month high of $204.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated 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 owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price target on shares of 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 raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday. Mizuho upped their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.