Acadian Asset Management LLC Raises Stock Holdings in Dover Corporation $DOV

Acadian Asset Management LLC increased its stake in Dover Corporation (NYSE:DOV) by 574.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,049 shares of the industrial products company’s stock after acquiring an additional 196,812 shares during the period. Acadian Asset Management LLC owned about 0.17% of Dover worth $42,328,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CSM Advisors LLC increased its stake in shares of Dover by 4.3% in the second quarter. CSM Advisors LLC now owns 49,097 shares of the industrial products company’s stock worth $8,993,000 after buying an additional 2,042 shares during the period. Rathbones Group PLC boosted its stake in Dover by 5.7% during the 2nd quarter. Rathbones Group PLC now owns 23,691 shares of the industrial products company’s stock valued at $4,341,000 after purchasing an additional 1,270 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its stake in shares of Dover by 2,725.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 45,464 shares of the industrial products company’s stock worth $8,330,000 after acquiring an additional 43,855 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Dover by 11.9% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 295,440 shares of the industrial products company’s stock worth $54,133,000 after acquiring an additional 31,496 shares during the period. Finally, Aviva PLC grew its position in Dover by 7.0% during the second quarter. Aviva PLC now owns 102,670 shares of the industrial products company’s stock valued at $18,812,000 after buying an additional 6,745 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DOV. Oppenheimer lowered their price target on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Citigroup restated a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada increased their price objective on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, UBS Group set a $200.00 price objective on shares of Dover in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.55.

Dover Price Performance

Dover stock opened at $180.34 on Monday. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The company’s 50 day moving average is $171.99 and its two-hundred day moving average is $177.40. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market cap 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 net margin of 28.37% and a return on equity of 17.62%. The company had revenue of $1.78 billion during the quarter. On average, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 28th. 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.