Summit Trail Advisors LLC Sells 696 Shares of Dover Co. (NYSE:DOV)

Summit Trail Advisors LLC lessened its stake in shares of Dover Co. (NYSE:DOV) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,995 shares of the industrial products company’s stock after selling 696 shares during the period. Summit Trail Advisors LLC’s holdings in Dover were worth $383,000 at the end of the most recent reporting period.

Other large 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 $27,000. McClarren Financial Advisors Inc. grew its position 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 last quarter. Ashton Thomas Securities LLC bought a new stake in Dover during the 3rd quarter valued at about $33,000. Fairscale Capital LLC purchased a new position in Dover in the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Dover in the second quarter worth approximately $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Mizuho upped their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research upgraded 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was 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.

Dover Stock Performance

DOV opened at $206.31 on Wednesday. Dover Co. has a 12-month low of $137.73 and a 12-month high of $207.74. The company has a market cap of $28.30 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.75 and a beta of 1.22. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $193.70 and its 200 day moving average is $185.61.

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 given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

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.