1,704 Shares in Dover Co. (NYSE:DOV) Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,704 shares of the industrial products company’s stock, valued at approximately $307,000.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Dover by 27.4% during the first quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after acquiring an additional 35,750 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Dover by 14.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock worth $35,909,000 after acquiring an additional 25,562 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Dover by 9.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after acquiring an additional 19,156 shares during the last quarter. Norges Bank bought a new position in shares of Dover during the fourth quarter worth about $175,275,000. Finally, Hsbc Holdings PLC raised its position in shares of Dover by 14.2% during the fourth quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after acquiring an additional 35,109 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of analyst reports. Oppenheimer raised their price objective on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Barclays raised their target price on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Stock Up 1.2 %

Dover stock traded up $2.19 during mid-day trading on Wednesday, reaching $182.26. The stock had a trading volume of 459,547 shares, compared to its average volume of 988,212. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The stock’s 50-day simple moving average is $180.22 and its 200-day simple moving average is $176.30. The firm has a market capitalization of $25.05 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Dover Co. will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.