Truist Financial Corp Purchases 576 Shares of Dover Co. (NYSE:DOV)

Truist Financial Corp lifted its position in shares of Dover Co. (NYSE:DOV) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,911 shares of the industrial products company’s stock after purchasing an additional 576 shares during the period. Truist Financial Corp’s holdings in Dover were worth $8,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Dover during the fourth quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover during the third quarter worth about $33,000. R Squared Ltd bought a new stake in shares of Dover during the fourth quarter worth about $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover during the fourth quarter worth about $46,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DOV. Citigroup reduced their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Price Performance

Shares of DOV opened at $200.43 on Friday. Dover Co. has a 52-week low of $161.19 and a 52-week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business’s 50 day moving average price is $195.51 and its two-hundred day moving average price is $192.47. The firm has a market cap of $27.51 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. Dover’s dividend payout ratio is 10.59%.

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.