Grove Bank & Trust Has $73,000 Stake in Dover Co. (NYSE:DOV)

Grove Bank & Trust raised its position in shares of Dover Co. (NYSE:DOV) by 68.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 390 shares of the industrial products company’s stock after buying an additional 158 shares during the period. Grove Bank & Trust’s holdings in Dover were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of Dover during the third quarter valued at approximately $1,920,000. Brendel Financial Advisors LLC grew its stake in shares of Dover by 347.7% during the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 17,685 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after purchasing an additional 5,372 shares during the last quarter. Empowered Funds LLC boosted its stake in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 4,629 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 60,235 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. UBS Group started coverage on shares of Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Stock Up 0.3 %

Shares of DOV stock opened at $195.00 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 1 year low of $144.63 and a 1 year high of $208.26. The firm’s fifty day moving average price is $195.96 and its two-hundred day moving average price is $189.25. The firm has a market capitalization of $26.75 billion, a P/E ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 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.