Dover Corporation $DOV Position Boosted by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Dover Corporation by 2.4%, owning 122,590 shares worth approximately $22.46 million as of its latest filing.
• Analysts have a consensus rating of "Moderate Buy" for Dover, with a target price averaging $212.42, reflecting positive sentiment from several firms.
• Dover recently raised its quarterly dividend to $0.52 per share, representing a 1.3% yield with a 12.55% payout ratio.

Aberdeen Group plc lifted its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,590 shares of the industrial products company's stock after purchasing an additional 2,903 shares during the period. Aberdeen Group plc owned about 0.09% of Dover worth $22,462,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Legacy Financial Advisors Inc. lifted its position in shares of Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock worth $726,000 after purchasing an additional 57 shares during the last quarter. Summit Financial LLC raised its stake in Dover by 0.9% during the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock worth $1,159,000 after acquiring an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Dover by 0.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company's stock worth $3,971,000 after acquiring an additional 67 shares during the period. Rockland Trust Co. raised its stake in Dover by 0.4% during the second quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company's stock worth $2,819,000 after acquiring an additional 68 shares during the period. Finally, Premier Path Wealth Partners LLC raised its stake in Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares during the period. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on DOV. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a research note on Wednesday, October 8th. Citigroup reiterated a "buy" rating and set a $226.00 price objective (up previously 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 $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and a consensus target price of $212.42.

Dover Price Performance

NYSE DOV opened at $161.42 on Tuesday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a market capitalization of $22.14 billion, a PE ratio of 9.74, a P/E/G ratio of 1.29 and a beta of 1.26. The company's 50 day simple moving average is $173.42 and its 200 day simple moving average is $175.68.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $1.78 billion for the quarter. As a group, equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.52 per share. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

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.

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