Tidal Investments LLC Boosts Stake in Dover Co. (NYSE:DOV)

Tidal Investments LLC raised its holdings in Dover Co. (NYSE:DOV) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,917 shares of the industrial products company’s stock after acquiring an additional 1,063 shares during the period. Tidal Investments LLC’s holdings in Dover were worth $2,093,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independent Advisor Alliance increased its position in shares of Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after purchasing an additional 58 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in Dover by 2.7% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after buying an additional 60 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after buying an additional 63 shares during the last quarter. Empower Advisory Group LLC raised its position in shares of Dover by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after buying an additional 73 shares in the last quarter. Finally, First Commonwealth Financial Corp PA lifted its holdings in shares of Dover by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock worth $663,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. Mizuho boosted their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Citigroup boosted their price target on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $213.91.

Dover Stock Down 0.7 %

Shares of NYSE:DOV opened at $199.65 on Tuesday. The firm has a market capitalization of $27.39 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The stock has a 50 day moving average price of $197.57 and a 200-day moving average price of $187.60. Dover Co. has a 52-week low of $143.96 and a 52-week high of $208.26.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

About Dover

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.