Wellington Management Group LLP Has $370.16 Million Holdings in Dover Co. (NYSE:DOV)

Wellington Management Group LLP lessened its position in Dover Co. (NYSE:DOV) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,930,535 shares of the industrial products company’s stock after selling 88,497 shares during the period. Wellington Management Group LLP owned approximately 1.41% of Dover worth $370,161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DOV. McClarren Financial Advisors Inc. grew its stake in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Dover in the third quarter valued at approximately $33,000. Fairscale Capital LLC bought a new position in shares of Dover in the second quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover in the second quarter valued at approximately $41,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Dover by 183.5% in the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DOV shares. Oppenheimer restated 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. Wells Fargo & Company raised their target price on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $209.90.

Dover Stock Performance

Shares of DOV opened at $201.46 on Friday. The firm has a market cap of $27.64 billion, a PE ratio of 18.02, a PEG ratio of 2.73 and a beta of 1.22. The stock’s fifty day moving average price is $196.21 and its two-hundred day moving average price is $186.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover Co. has a 1 year low of $142.44 and a 1 year high of $208.26.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s payout ratio is presently 18.43%.

Dover 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.