Dover Co. (NYSE:DOV) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its stake in Dover Co. (NYSE:DOV) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,128 shares of the industrial products company’s stock after selling 100 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Dover were worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Dover by 0.9% in the 3rd 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. Geode Capital Management LLC lifted its position in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC boosted its stake in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after purchasing an additional 60,912 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after buying an additional 17,193 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DOV. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Barclays increased their target price on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Finally, Citigroup increased their price objective on Dover from $226.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $213.91.

Dover Price Performance

DOV opened at $201.01 on Monday. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $27.58 billion, a P/E ratio of 17.98, a PEG ratio of 2.70 and a beta of 1.22. The stock has a fifty day moving average of $197.33 and a 200-day moving average of $187.47.

Dover Announces Dividend

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

About Dover

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.