Coastline Trust Co Buys New Holdings in Dover Co. (NYSE:DOV)

Coastline Trust Co acquired a new stake in Dover Co. (NYSE:DOV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 263 shares of the industrial products company’s stock, valued at approximately $50,000.

Several other hedge funds have also bought and sold shares of DOV. Cetera Investment Advisers grew its position in shares of Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock valued at $4,410,000 after acquiring an additional 22,572 shares during the period. ORG Partners LLC grew its position in shares of Dover by 1,414.2% in the second quarter. ORG Partners LLC now owns 4,255 shares of the industrial products company’s stock valued at $754,000 after purchasing an additional 3,974 shares in the last quarter. Swedbank AB acquired a new position in shares of Dover during the 1st quarter valued at about $1,581,000. Sei Investments Co. raised its stake in Dover by 6.3% during the first quarter. Sei Investments Co. now owns 60,180 shares of the industrial products company’s stock worth $10,663,000 after purchasing an additional 3,590 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Dover by 10.8% in the second quarter. QRG Capital Management Inc. now owns 31,274 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 3,051 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DOV. UBS Group started coverage on shares of Dover in a research report on Wednesday. They issued a “neutral” rating and a $217.00 target price on the stock. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.40.

Dover Price Performance

Shares of NYSE:DOV opened at $201.18 on Friday. The stock has a market cap of $27.60 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.74 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. The business’s fifty day moving average price is $191.53 and its two-hundred day moving average price is $184.71. Dover Co. has a one year low of $136.50 and a one year high of $204.93.

Dover Announces Dividend

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

Insider Buying and Selling

In related 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 completion of the sale, the senior vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’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 sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,042 shares of company stock valued at $7,368,578. Insiders own 1.30% of the company’s stock.

Dover Profile

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.