Cullen Frost Bankers Inc. Lowers Position in Dover Corporation $DOV

Cullen Frost Bankers Inc. decreased its position in shares of Dover Corporation (NYSE:DOV) by 30.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,896 shares of the industrial products company’s stock after selling 3,804 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Dover were worth $1,484,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AdvisorShares Investments LLC purchased a new position in Dover in the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 93 shares during the period. Caldwell Trust Co purchased a new position in shares of Dover in the 2nd quarter valued at about $31,000. Harbour Investments Inc. raised its holdings in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Finally, Investment Research & Advisory Group Inc. purchased a new position in Dover during the second quarter worth approximately $33,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOV. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Oppenheimer upped their price objective on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday. 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 report on Tuesday, October 28th. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Finally, Wells Fargo & Company raised their price target on shares of Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.45.

Insider Transactions at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by company insiders.

Dover Stock Up 0.5%

DOV stock opened at $207.73 on Tuesday. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The firm’s 50 day moving average price is $196.23 and its 200-day moving average price is $183.48. The firm has a market cap of $28.49 billion, a PE ratio of 12.78, a PEG ratio of 1.44 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s payout ratio is presently 12.79%.

Dover Company 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.