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

Fmr LLC lifted its position in shares of Dover Co. (NYSE:DOV) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,085,826 shares of the industrial products company’s stock after acquiring an additional 149,378 shares during the period. Fmr LLC owned approximately 2.25% of Dover worth $591,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DOV. American Century Companies Inc. lifted its position in Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares in the last quarter. Interval Partners LP lifted its position in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares in the last quarter. Kimelman & Baird LLC bought a new position in Dover in the 2nd quarter valued at approximately $17,323,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Dover by 153.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 149,569 shares of the industrial products company’s stock valued at $26,990,000 after acquiring an additional 90,480 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Dover in the 3rd quarter valued at approximately $14,459,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE DOV opened at $206.51 on Friday. The company has a market capitalization of $28.33 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. 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 business’s fifty day moving average is $194.46 and its 200 day moving average is $185.90. Dover Co. has a fifty-two week low of $137.73 and a fifty-two week high of $208.26.

Dover Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOV. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. This trade represents a 54.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

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.