Sanctuary Advisors LLC Boosts Holdings in Dover Co. (NYSE:DOV)

Sanctuary Advisors LLC raised its stake in shares of Dover Co. (NYSE:DOV) by 11.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,675 shares of the industrial products company’s stock after acquiring an additional 2,051 shares during the period. Sanctuary Advisors LLC’s holdings in Dover were worth $4,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares in the last quarter. Interval Partners LP increased its stake in Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the last quarter. FMR LLC raised its holdings in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Dover in the second quarter valued at $17,323,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOV. UBS Group assumed coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Barclays boosted their target price on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Five 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 a consensus rating of “Moderate Buy” and an average price target of $213.91.

Dover Price Performance

Shares of DOV stock opened at $199.65 on Tuesday. The stock has a 50 day moving average price of $197.57 and a 200 day moving average price of $187.60. Dover Co. has a 52-week low of $143.96 and a 52-week 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 firm has a market capitalization of $27.39 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 1.22.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

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.