Dover Corporation $DOV Holdings Boosted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its stake in shares of Dover Corporation (NYSE:DOV) by 14.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,999 shares of the industrial products company’s stock after buying an additional 259 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Dover were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DOV. Nuveen LLC acquired a new stake in shares of Dover during the 1st quarter valued at $526,081,000. Hsbc Holdings PLC boosted its stake in shares of Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after buying an additional 268,931 shares during the period. Strs Ohio acquired a new stake in shares of Dover during the 1st quarter valued at $40,148,000. Auto Owners Insurance Co boosted its stake in shares of Dover by 4,768.6% during the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock valued at $33,358,000 after buying an additional 185,977 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Dover by 595.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 183,436 shares of the industrial products company’s stock valued at $33,611,000 after buying an additional 157,050 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. Barclays reduced their price objective on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Citigroup reaffirmed a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Robert W. Baird lifted their target price on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.42.

Dover Stock Performance

NYSE:DOV opened at $161.42 on Tuesday. The firm’s 50-day moving average is $173.42 and its 200-day moving average is $175.68. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.29 and a beta of 1.26.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Dover’s payout ratio is presently 12.55%.

Dover Company 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.