26,298 Dover Corporation $DOV Shares Acquired by Vest Financial LLC

Vest Financial LLC boosted its stake in shares of Dover Corporation (NYSE:DOV) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,749 shares of the industrial products company’s stock after purchasing an additional 26,298 shares during the quarter. Vest Financial LLC owned about 0.26% of Dover worth $66,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of Dover by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 5,547 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 61 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Dover by 3.3% during the third quarter. Pinnacle Associates Ltd. now owns 7,810 shares of the industrial products company’s stock worth $1,461,000 after buying an additional 250 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Dover by 1.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 60,454 shares of the industrial products company’s stock valued at $11,308,000 after buying an additional 949 shares during the period. Integrated Advisors Network LLC increased its holdings in Dover by 19.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,506 shares of the industrial products company’s stock valued at $282,000 after buying an additional 249 shares during the period. Finally, Harfst & Associates Inc. increased its stake in shares of Dover by 4.4% in the 3rd quarter. Harfst & Associates Inc. now owns 10,230 shares of the industrial products company’s stock valued at $1,914,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $199.49 on Thursday. The company’s 50 day moving average price is $193.76 and its two-hundred day moving average price is $207.68. The firm has a market capitalization of $26.87 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.73 and a beta of 1.13. Dover Corporation has a fifty-two week low of $167.34 and a fifty-two week high of $237.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.5250 per share. The ex-dividend date was Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is presently 25.30%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Mizuho dropped their target price on shares of Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Finally, Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.93.

Dover Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.