Brendel Financial Advisors LLC Has $786,000 Stock Position in Dover Corporation $DOV

Brendel Financial Advisors LLC cut its holdings in shares of Dover Corporation (NYSE:DOV) by 79.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,710 shares of the industrial products company’s stock after selling 17,850 shares during the quarter. Brendel Financial Advisors LLC’s holdings in Dover were worth $786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DOV. Brighton Jones LLC boosted its holdings in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Dover by 112.2% during the first quarter. Canada Pension Plan Investment Board now owns 48,812 shares of the industrial products company’s stock valued at $8,575,000 after buying an additional 25,805 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Dover by 41.4% in the first quarter. Vident Advisory LLC now owns 4,744 shares of the industrial products company’s stock valued at $834,000 after buying an additional 1,390 shares during the period. Baird Financial Group Inc. grew its position in Dover by 1.8% during the first quarter. Baird Financial Group Inc. now owns 70,332 shares of the industrial products company’s stock worth $12,356,000 after buying an additional 1,267 shares in the last quarter. Finally, DRW Securities LLC bought a new position in Dover during the first quarter valued at about $246,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the topic of several recent research reports. Robert W. Baird set a $235.00 price objective on Dover in a report on Friday, October 24th. UBS Group set a $200.00 price target on shares of Dover in a research note on Friday, October 24th. Morgan Stanley increased their price objective on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Barclays upped their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.64.

Insider Activity

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Dover Stock Down 0.7%

NYSE DOV opened at $197.72 on Wednesday. The stock’s 50 day simple moving average is $187.34 and its 200 day simple moving average is $180.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The firm has a market cap of $27.12 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $1.78 billion for the quarter. As a group, sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio is currently 12.79%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.