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Dover Co. (NYSE:DOV) Stake Boosted by Geode Capital Management LLC

Dover logo with Industrial Products background

Geode Capital Management LLC grew its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,228,716 shares of the industrial products company's stock after acquiring an additional 25,993 shares during the period. Geode Capital Management LLC owned about 2.35% of Dover worth $616,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. McClarren Financial Advisors Inc. grew its position in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company's stock worth $32,000 after acquiring an additional 176 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Dover during the third quarter valued at $33,000. Fairscale Capital LLC acquired a new stake in shares of Dover during the second quarter worth $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $41,000. Finally, Avior Wealth Management LLC grew its position in shares of Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company's stock valued at $49,000 after buying an additional 167 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays lifted their target price on Dover from $190.00 to $205.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. UBS Group began coverage on shares of Dover in a research note on Wednesday, November 13th. They set a "neutral" rating and a $217.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $197.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and a consensus target price of $213.91.

Check Out Our Latest Stock Analysis on DOV

Dover Price Performance

Shares of DOV stock traded down $0.23 during mid-day trading on Friday, hitting $201.13. 687,306 shares of the stock traded hands, compared to its average volume of 937,939. Dover Co. has a twelve month low of $143.96 and a twelve month high of $208.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The company's 50-day simple moving average is $197.33 and its 200-day simple moving average is $187.40. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover's payout ratio is currently 18.43%.

Dover Profile

(Free Report)

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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