Vanguard Personalized Indexing Management LLC Buys 5,344 Shares of Dover Corporation $DOV

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Dover Corporation by 34.1% during the second quarter, acquiring an additional 5,344 shares, bringing its total holdings to 20,998 shares valued at approximately $3.85 million.
• In recent analyst updates, JPMorgan Chase & Co. raised its price target for Dover from $211.00 to $217.00 while maintaining an "overweight" rating, while Citi increased its price target from $202.00 to $226.00.
• Dover Corporation recently announced a quarterly dividend of $0.52 per share, reflecting a 1.3% yield, with a dividend payout ratio of 12.55%.

Vanguard Personalized Indexing Management LLC boosted its stake in Dover Corporation (NYSE:DOV - Free Report) by 34.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,998 shares of the industrial products company's stock after acquiring an additional 5,344 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Dover were worth $3,848,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. North Capital Inc. bought a new stake in Dover in the first quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover in the first quarter worth about $31,000. Investment Research & Advisory Group Inc. bought a new stake in Dover in the second quarter worth about $33,000. Truvestments Capital LLC raised its position in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares during the period. Finally, Costello Asset Management INC bought a new stake in Dover in the first quarter worth about $35,000. Institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. 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 issued a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays reduced their target price on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company reduced their target price on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.42.

Dover Price Performance

Shares of NYSE:DOV opened at $162.58 on Wednesday. The company has a 50 day moving average of $173.13 and a 200 day moving average of $175.59. The stock has a market cap of $22.29 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.28 and a beta of 1.26. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

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

Dover Increases Dividend

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