Wilmington Savings Fund Society FSB Buys New Stake in Dover Co. (NYSE:DOV)

Wilmington Savings Fund Society FSB purchased a new position in shares of Dover Co. (NYSE:DOV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,736 shares of the industrial products company’s stock, valued at approximately $525,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings 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 purchasing an additional 56,149 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dover by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after buying an additional 25,993 shares in the last quarter. FMR LLC lifted its holdings in shares of Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares during the period. Dimensional Fund Advisors LP boosted its stake in Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after buying an additional 60,912 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Dover by 1.8% in the third 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 acquiring an additional 17,193 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOV. 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. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.91.

Dover Stock Down 0.7 %

DOV stock opened at $199.65 on Tuesday. The company has a 50 day moving average of $197.57 and a two-hundred day moving average of $187.60. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26. The company has a market cap of $27.39 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. Dover’s dividend payout ratio (DPR) is currently 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.