Abel Hall LLC Makes New Investment in Dover Co. (NYSE:DOV)

Abel Hall LLC acquired a new stake in Dover Co. (NYSE:DOV) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,057 shares of the industrial products company’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. Independent Advisor Alliance grew its stake in Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after acquiring an additional 58 shares during the period. Main Street Financial Solutions LLC increased its stake in shares of Dover by 2.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 60 shares in the last quarter. Valmark Advisers Inc. raised its position in shares of Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 63 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Dover by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after buying an additional 73 shares in the last quarter. Finally, First Commonwealth Financial Corp PA boosted its holdings in Dover by 2.2% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock worth $663,000 after buying an additional 73 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Oppenheimer restated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. UBS Group started coverage on shares of Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price on the stock. Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.90.

Dover Trading Down 0.2 %

Shares of DOV opened at $201.46 on Monday. Dover Co. has a 12-month low of $142.44 and a 12-month high of $208.26. The firm has a market capitalization of $27.64 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.71 and a beta of 1.22. The firm has a 50-day moving average price of $196.21 and a 200 day moving average price of $186.84. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

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

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.