26,298 Dover Corporation $DOV Shares Bought by Vest Financial LLC

Vest Financial LLC increased its position in Dover Corporation (NYSE:DOV) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 355,749 shares of the industrial products company’s stock after acquiring an additional 26,298 shares during the quarter. Vest Financial LLC’s holdings in Dover were worth $66,543,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DOV. BlackRock Inc. acquired a new stake in Dover during the 2nd quarter worth approximately $2,347,134,000. Bank of New York Mellon Corp grew its holdings in Dover by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock worth $631,806,000 after acquiring an additional 150,319 shares during the last quarter. Bank of America Corp DE acquired a new position in Dover in the 2nd quarter valued at approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Dover by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock valued at $217,433,000 after acquiring an additional 20,590 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Dover during the second quarter valued at $211,269,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $199.49 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. Dover Corporation has a fifty-two week low of $167.34 and a fifty-two week high of $237.54. The company has a 50 day simple moving average of $193.76 and a two-hundred day simple moving average of $207.68. The company has a market capitalization of $26.87 billion, a PE ratio of 24.04, a P/E/G ratio of 1.73 and a beta of 1.13.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, August 31st. Dover’s dividend payout ratio is currently 25.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DOV shares. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Wells Fargo & Company began coverage on shares of Dover in a research note on Thursday, September 24th. They issued an “overweight” rating and a $229.00 price objective on the stock. Robert W. Baird set a $270.00 price objective on Dover in a report on Friday, July 24th. Wolfe Research restated an “outperform” rating and issued a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Finally, Royal Bank Of Canada lowered their target price on Dover from $227.00 to $216.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.93.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.