Dover Corporation $DOV Shares Acquired by Rathbones Group PLC

Rathbones Group PLC boosted its holdings in Dover Corporation (NYSE:DOV) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,691 shares of the industrial products company’s stock after buying an additional 1,270 shares during the quarter. Rathbones Group PLC’s holdings in Dover were worth $4,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of Dover during the 1st quarter worth $526,081,000. Hsbc Holdings PLC lifted its holdings in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Strs Ohio purchased a new stake in shares of Dover during the first quarter valued at $40,148,000. Allianz Asset Management GmbH boosted its position in shares of Dover by 647.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 255,648 shares of the industrial products company’s stock valued at $46,842,000 after purchasing an additional 221,443 shares during the period. Finally, Auto Owners Insurance Co increased its stake in Dover by 4,768.6% in the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock worth $33,358,000 after purchasing an additional 185,977 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DOV shares. Barclays raised their target price on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Oppenheimer decreased their price objective on shares of Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group set a $200.00 target price on Dover in a report on Friday, October 24th. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Trading Up 1.0%

NYSE DOV opened at $180.34 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm’s fifty day simple moving average is $171.99 and its 200-day simple moving average is $177.40. The company has a market capitalization of $24.73 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion during the quarter. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Dover’s payout ratio is presently 12.79%.

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.