Fiduciary Family Office LLC Invests $376,000 in Dover Corporation $DOV

Key Points

• Fiduciary Family Office LLC has made a new investment in Dover Corporation, acquiring 2,052 shares valued at approximately $376,000 in the second quarter.
• Several institutional investors have recently adjusted their positions in Dover, with Vanguard Group owning 16.34 million shares, contributing to over 84% of the stock being owned by institutional investors and hedge funds.
• Dover Corporation has a current average target price of $212.25, supported by analysts' ratings, including eight 'Buy' ratings, indicating a Moderate Buy consensus.

Fiduciary Family Office LLC bought a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,052 shares of the industrial products company's stock, valued at approximately $376,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Dover by 0.7% during the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after purchasing an additional 106,679 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Dover during the first quarter worth approximately $526,081,000. Invesco Ltd. increased its position in shares of Dover by 7.9% during the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after purchasing an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Dover by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock worth $147,680,000 after purchasing an additional 12,518 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Wells Fargo & Company dropped their price target on Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, October 6th. Citigroup reiterated a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Dover from $217.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Dover in a report on Wednesday, October 8th. Finally, Barclays dropped their target price on Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $212.25.

Dover Stock Performance

Shares of Dover stock opened at $173.34 on Wednesday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The business's fifty day simple moving average is $172.38 and its 200-day simple moving average is $175.52. The firm has a market cap of $23.77 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

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

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Dover's dividend payout ratio is currently 12.55%.

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.

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