Dover Corporation $DOV Shares Purchased by Rathbones Group PLC

Rathbones Group PLC raised its holdings in shares of Dover Corporation (NYSE:DOV) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,691 shares of the industrial products company’s stock after purchasing an additional 1,270 shares during the period. Rathbones Group PLC’s holdings in Dover were worth $4,341,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Legacy Financial Advisors Inc. grew its position in shares of Dover by 1.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after buying an additional 57 shares during the last quarter. Summit Financial LLC boosted its stake in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. boosted its stake in Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of Dover by 0.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $1,266,000 after purchasing an additional 60 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Dover by 0.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock worth $3,971,000 after purchasing an additional 67 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Citigroup reissued a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. UBS Group set a $200.00 price objective on shares of Dover in a report on Friday, October 24th. Oppenheimer cut their price objective on shares of Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Robert W. Baird set a $235.00 target price on shares of Dover in a research report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Stock Up 1.0%

Dover stock opened at $180.34 on Monday. The company’s 50-day moving average price is $171.99 and its two-hundred day moving average price is $177.40. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.40 and a beta of 1.29. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

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

Dover Announces Dividend

The company also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 28th. Dover’s payout ratio is currently 12.79%.

Dover Company 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.