Dover Corporation $DOV Stock: ProShare Advisors LLC Increases Position

ProShare Advisors LLC boosted its stake in Dover Corporation (NYSE:DOV) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 788,983 shares of the industrial products company’s stock after purchasing an additional 36,601 shares during the period. ProShare Advisors LLC’s holdings in Dover were worth $147,579,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vise Technologies Inc. boosted its stake in shares of Dover by 38.8% during the third quarter. Vise Technologies Inc. now owns 4,840 shares of the industrial products company’s stock valued at $905,000 after purchasing an additional 1,352 shares in the last quarter. MGO One Seven LLC lifted its holdings in Dover by 2.2% during the 3rd quarter. MGO One Seven LLC now owns 2,804 shares of the industrial products company’s stock worth $525,000 after buying an additional 60 shares in the last quarter. United Asset Strategies Inc. purchased a new position in shares of Dover in the 3rd quarter valued at about $444,000. BOKF NA grew its holdings in shares of Dover by 0.7% during the third quarter. BOKF NA now owns 8,133 shares of the industrial products company’s stock worth $1,521,000 after buying an additional 54 shares during the last quarter. Finally, North Dakota State Investment Board lifted its stake in shares of Dover by 1.2% in the third quarter. North Dakota State Investment Board now owns 4,082 shares of the industrial products company’s stock valued at $764,000 after purchasing an additional 50 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Dover from $216.00 to $219.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Citigroup increased their target price on shares of Dover from $266.00 to $268.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.60.

Dover Stock Performance

Shares of DOV opened at $207.66 on Friday. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. The stock’s 50-day simple moving average is $193.97 and its 200 day simple moving average is $209.58. Dover Corporation has a 52-week low of $176.40 and a 52-week high of $237.54.

Dover (NYSE:DOV) last released its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company posted $2.62 EPS. Dover’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts forecast that Dover Corporation will post 10.72 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.5250 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 31st. Dover’s dividend payout ratio (DPR) is presently 24.48%.

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.