Prudential PLC Acquires 2,603 Shares of Dover Corporation $DOV

Prudential PLC grew its stake in shares of Dover Corporation (NYSE:DOV) by 142.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,427 shares of the industrial products company’s stock after purchasing an additional 2,603 shares during the quarter. Prudential PLC’s holdings in Dover were worth $811,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DOV. TD Waterhouse Canada Inc. increased its holdings in shares of Dover by 5.1% in the second quarter. TD Waterhouse Canada Inc. now owns 7,352 shares of the industrial products company’s stock valued at $1,368,000 after purchasing an additional 360 shares during the last quarter. Wealthspire Advisors LLC raised its stake in Dover by 0.8% during the second quarter. Wealthspire Advisors LLC now owns 8,768 shares of the industrial products company’s stock worth $1,607,000 after acquiring an additional 68 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after buying an additional 231,146 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Dover by 14.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 265,083 shares of the industrial products company’s stock worth $48,571,000 after buying an additional 32,877 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Dover by 18.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 135,374 shares of the industrial products company’s stock worth $24,805,000 after buying an additional 20,764 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on DOV shares. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Wells Fargo & Company upped their price target on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Royal Bank Of Canada raised their price objective on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Robert W. Baird set a $235.00 target price on Dover in a research report on Friday, October 24th. Finally, Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.27.

Dover Trading Up 3.1%

NYSE DOV opened at $183.59 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $25.18 billion, a P/E ratio of 11.29, a PEG ratio of 1.40 and a beta of 1.29. The business has a fifty day simple moving average of $173.02 and a 200 day simple moving average of $178.16. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

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

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Dover Profile

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.