Allworth Financial LP Grows Stock Holdings in Dover Corporation $DOV

Allworth Financial LP grew its stake in Dover Corporation (NYSE:DOV) by 14.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,228 shares of the industrial products company’s stock after purchasing an additional 418 shares during the period. Allworth Financial LP’s holdings in Dover were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock valued at $2,870,986,000 after buying an additional 106,679 shares in the last quarter. Nuveen LLC acquired a new position in shares of Dover during the 1st quarter valued at about $526,081,000. Invesco Ltd. grew its holdings in shares of Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after purchasing an additional 93,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Dover by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock worth $172,759,000 after purchasing an additional 19,387 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Dover by 11.5% during the second quarter. ProShare Advisors LLC now owns 975,551 shares of the industrial products company’s stock worth $178,750,000 after purchasing an additional 100,849 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.6%

Shares of DOV opened at $183.07 on Friday. The company’s 50-day simple moving average is $172.59 and its 200-day simple moving average is $177.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market capitalization of $25.11 billion, a PE ratio of 11.26, a P/E/G ratio of 1.40 and a beta of 1.29.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. Analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DOV. UBS Group set a $200.00 price target on shares of Dover in a research note on Friday, October 24th. Royal Bank Of Canada increased their price objective on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research report on Friday, October 24th. Morgan Stanley lifted their target price on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.27.

Dover 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.