Dover Corporation $DOV Shares Bought by Vest Financial LLC

Vest Financial LLC increased its stake in Dover Corporation (NYSE:DOV) by 38.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,428 shares of the industrial products company’s stock after purchasing an additional 105,366 shares during the period. Dover accounts for about 1.0% of Vest Financial LLC’s portfolio, making the stock its 13th largest position. Vest Financial LLC owned about 0.28% of Dover worth $70,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in Dover by 707.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Dover by 10.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock valued at $2,227,000 after acquiring an additional 1,160 shares during the period. Farther Finance Advisors LLC lifted its stake in Dover by 45.4% during the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 187 shares during the period. Heartland Bank & Trust Co acquired a new stake in Dover during the 1st quarter valued at approximately $739,000. Finally, Hsbc Holdings PLC lifted its stake in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on DOV shares. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Citigroup reiterated a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Finally, Barclays decreased their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.42.

Dover Stock Performance

NYSE:DOV opened at $161.64 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The company has a fifty day moving average of $173.71 and a two-hundred day moving average of $175.77. The stock has a market capitalization of $22.17 billion, a PE ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. As a group, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is currently 12.55%.

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.