iA Global Asset Management Inc. Raises Stock Holdings in Dover Co. (NYSE:DOV)

iA Global Asset Management Inc. raised its holdings in shares of Dover Co. (NYSE:DOV) by 89.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,319 shares of the industrial products company’s stock after buying an additional 3,447 shares during the quarter. iA Global Asset Management Inc.’s holdings in Dover were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC boosted its position in Dover by 25.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 25,744 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 5,272 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Dover by 33.5% during the 3rd quarter. Insigneo Advisory Services LLC now owns 3,930 shares of the industrial products company’s stock valued at $754,000 after buying an additional 986 shares in the last quarter. Wahed Invest LLC increased its holdings in Dover by 9.5% in the 3rd quarter. Wahed Invest LLC now owns 3,330 shares of the industrial products company’s stock worth $638,000 after acquiring an additional 290 shares in the last quarter. State Street Corp raised its position in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Dover during the third quarter valued at $437,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Down 0.2 %

DOV stock opened at $201.46 on Monday. The firm has a market cap of $27.64 billion, a PE ratio of 18.02, a PEG ratio of 2.73 and a beta of 1.22. Dover Co. has a one year low of $142.44 and a one year high of $208.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm’s 50 day moving average price is $196.21 and its 200-day moving average price is $186.84.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group assumed coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.90.

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.