Franklin Resources Inc. Lowers Stake in Dover Co. (NYSE:DOV)

Franklin Resources Inc. reduced its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,595,372 shares of the industrial products company's stock after selling 564,277 shares during the period. Franklin Resources Inc. owned approximately 2.62% of Dover worth $696,531,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in shares of Dover by 10.8% in the third quarter. Tidal Investments LLC now owns 10,917 shares of the industrial products company's stock valued at $2,093,000 after purchasing an additional 1,063 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Dover in the 3rd quarter valued at $525,000. World Investment Advisors LLC increased its stake in Dover by 4.2% in the 3rd quarter. World Investment Advisors LLC now owns 3,267 shares of the industrial products company's stock valued at $626,000 after buying an additional 131 shares during the period. Sanctuary Advisors LLC raised its position in Dover by 11.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,675 shares of the industrial products company's stock worth $4,028,000 after buying an additional 2,051 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Dover by 4.1% in the 3rd quarter. Anchor Investment Management LLC now owns 3,241 shares of the industrial products company's stock worth $621,000 after acquiring an additional 128 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOV has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Dover from $226.00 to $236.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Barclays boosted their target price on Dover from $190.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. 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 report on Monday, October 28th. Finally, Oppenheimer reissued an "outperform" rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $213.91.

Dover Price Performance

Shares of Dover stock traded down $0.35 on Friday, hitting $201.01. The company's stock had a trading volume of 687,308 shares, compared to its average volume of 937,939. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $197.33 and a 200-day moving average price of $187.40. Dover Co. has a 52-week low of $143.96 and a 52-week high of $208.26. The company has a market capitalization of $27.58 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 is Friday, November 29th. Dover's dividend payout ratio (DPR) is presently 18.43%.

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.