Brendel Financial Advisors LLC Sells 17,850 Shares of Dover Corporation $DOV

Brendel Financial Advisors LLC trimmed its position in 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 firm 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.

A number of other large investors also recently added to or reduced their stakes in DOV. waypoint wealth counsel bought a new position in shares of Dover in the 3rd quarter valued at about $419,000. Perigon Wealth Management LLC lifted its holdings in Dover by 64.8% in the third quarter. Perigon Wealth Management LLC now owns 2,668 shares of the industrial products company’s stock valued at $445,000 after buying an additional 1,049 shares during the period. Castle Rock Wealth Management LLC boosted its stake in Dover by 1.1% in the third quarter. Castle Rock Wealth Management LLC now owns 10,540 shares of the industrial products company’s stock valued at $1,757,000 after acquiring an additional 114 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in Dover by 0.4% during the 3rd quarter. Griffin Asset Management Inc. now owns 53,477 shares of the industrial products company’s stock worth $8,922,000 after acquiring an additional 226 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Dover by 4.4% during the 3rd quarter. Blue Trust Inc. now owns 2,846 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 119 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV opened at $197.72 on Wednesday. The firm has a market cap of $27.12 billion, a P/E ratio of 12.16, a PEG ratio of 1.53 and a beta of 1.31. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The firm’s 50 day moving average price is $187.34 and its two-hundred day moving average price is $180.75.

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

Dover Announces Dividend

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

Insider Transactions at Dover

In other Dover news, 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 completion of the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% 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 currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BNP Paribas initiated coverage on Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target on the stock. Barclays raised their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Wells Fargo & Company restated a “positive” rating on shares of Dover in a research report on Monday, December 15th. Morgan Stanley increased their price target on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.64.

About Dover

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.