Strategic Investment Advisors MI raised its stake in shares of Dover Co. (NYSE:DOV) by 108.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,494 shares of the industrial products company’s stock after purchasing an additional 4,421 shares during the quarter. Strategic Investment Advisors MI’s holdings in Dover were worth $1,072,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Dover by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 11,615,817 shares of the industrial products company’s stock valued at $1,257,296,000 after buying an additional 647,756 shares during the last quarter. Wells Fargo & Company MN grew its stake in Dover by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,740,078 shares of the industrial products company’s stock valued at $296,860,000 after purchasing an additional 38,861 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Dover by 4.0% in the third quarter. Nuveen Asset Management LLC now owns 2,009,640 shares of the industrial products company’s stock valued at $217,725,000 after purchasing an additional 76,757 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Dover by 8.6% during the third quarter. Lord Abbett & CO. LLC now owns 915,700 shares of the industrial products company’s stock worth $99,207,000 after purchasing an additional 72,700 shares during the period. Finally, Morgan Stanley boosted its position in Dover by 38.6% in the third quarter. Morgan Stanley now owns 744,402 shares of the industrial products company’s stock valued at $80,649,000 after buying an additional 207,472 shares during the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on DOV. Robert W. Baird lifted their price objective on shares of Dover from $129.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, November 19th. Morgan Stanley downgraded shares of Dover from an “overweight” rating to an “equal weight” rating and set a $134.00 target price for the company. in a research report on Monday, November 23rd. JPMorgan Chase & Co. upped their price target on shares of Dover from $130.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Wolfe Research lowered Dover from an “outperform” rating to a “peer perform” rating and lifted their price objective for the company from $122.00 to $135.00 in a research note on Tuesday, December 8th. Finally, Oppenheimer restated a “hold” rating on shares of Dover in a research note on Sunday, November 22nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $121.18.
DOV traded down $2.48 during midday trading on Wednesday, hitting $127.12. 1,151,844 shares of the company traded hands, compared to its average volume of 702,484. The business has a 50 day simple moving average of $124.21 and a two-hundred day simple moving average of $113.11. Dover Co. has a 52-week low of $62.95 and a 52-week high of $130.41. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.96 and a beta of 1.32. The company has a current ratio of 1.47, a quick ratio of 1.00 and a debt-to-equity ratio of 0.94.
Dover (NYSE:DOV) last issued its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.28. Dover had a net margin of 10.02% and a return on equity of 26.73%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $1.60 EPS. Dover’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Dover Co. will post 5.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 14th. Stockholders of record on Monday, November 30th were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, November 27th. Dover’s dividend payout ratio is presently 33.39%.
Dover Company Profile
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
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