Fmr LLC Purchases 149,378 Shares of Dover Co. (NYSE:DOV)

Fmr LLC lifted its position in Dover Co. (NYSE:DOV) by 5.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,085,826 shares of the industrial products company’s stock after acquiring an additional 149,378 shares during the quarter. Fmr LLC’s holdings in Dover were worth $591,676,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Patton Albertson Miller Group LLC increased its holdings in shares of Dover by 1.1% in the third quarter. Patton Albertson Miller Group LLC now owns 20,121 shares of the industrial products company’s stock worth $3,858,000 after purchasing an additional 215 shares during the last quarter. Hancock Whitney Corp increased its stake in Dover by 3.2% during the third quarter. Hancock Whitney Corp now owns 7,486 shares of the industrial products company’s stock worth $1,435,000 after acquiring an additional 232 shares during the last quarter. DRW Securities LLC bought a new stake in Dover during the third quarter worth approximately $265,000. Independent Advisor Alliance increased its stake in Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after acquiring an additional 58 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Dover during the third quarter worth approximately $293,000. 84.46% of the stock is owned by institutional investors.

Dover Stock Up 0.1 %

Shares of NYSE DOV opened at $206.51 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.76 and a beta of 1.22. The stock has a 50 day moving average price of $194.46 and a 200 day moving average price of $185.90. Dover Co. has a 52-week low of $137.73 and a 52-week high of $208.26.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. Dover’s payout ratio is 18.43%.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Barclays boosted their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. boosted their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 54.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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.