Inscription Capital LLC purchased a new position in Dover Co. (NYSE:DOV) in the second quarter, HoldingsChannel reports. The firm purchased 3,335 shares of the industrial products company’s stock, valued at approximately $502,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Dover by 0.8% in the second quarter. Vanguard Group Inc. now owns 16,109,694 shares of the industrial products company’s stock worth $2,426,121,000 after acquiring an additional 135,727 shares during the period. Boston Partners grew its holdings in Dover by 0.7% during the 2nd quarter. Boston Partners now owns 4,522,248 shares of the industrial products company’s stock valued at $681,127,000 after buying an additional 30,047 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dover by 2.4% in the second quarter. Geode Capital Management LLC now owns 2,479,756 shares of the industrial products company’s stock worth $372,387,000 after buying an additional 58,793 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Dover by 16.1% in the 1st quarter. Nuveen Asset Management LLC now owns 1,885,538 shares of the industrial products company’s stock valued at $258,564,000 after acquiring an additional 261,082 shares during the last quarter. Finally, Fiduciary Management Inc. WI purchased a new position in shares of Dover during the first quarter valued at about $218,186,000. 84.00% of the stock is owned by hedge funds and other institutional investors.
DOV stock opened at $157.38 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 0.83. Dover Co. has a 52 week low of $108.00 and a 52 week high of $176.46. The stock has a market capitalization of $22.66 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.39. The firm has a 50 day moving average of $167.47 and a 200 day moving average of $156.24.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. This is an increase from Dover’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 30th. Dover’s dividend payout ratio is presently 35.27%.
DOV has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on shares of Dover in a report on Thursday, October 7th. They issued an “underweight” rating and a $152.00 price target for the company. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating and set a $155.00 target price for the company. in a research note on Tuesday, June 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dover from $167.00 to $177.00 and gave the stock a “hold” rating in a research note on Wednesday, July 21st. Royal Bank of Canada boosted their price objective on shares of Dover from $153.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 21st. Finally, Morgan Stanley reduced their target price on shares of Dover from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $165.00.
Dover Company Profile
Dover Corp. engages in the manufacture of equipment, components, and specialty systems. The firm also provides supporting engineering, testing, and other similar services. It operates through the following segments: Engineered Products, Fueling Solutions, Imaging and Identification, Pumps and Process Solutions, and Refrigeration and Food Equipment.
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