Rehmann Capital Advisory Group Boosts Holdings in Dover Co. (NYSE:DOV)

by · The Cerbat Gem

Rehmann Capital Advisory Group increased its holdings in Dover Co. (NYSE:DOV – Free Report) by 1.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,929 shares of the industrial products company’s stock after purchasing an additional 121 shares during the period. Rehmann Capital Advisory Group’s holdings in Dover were worth $1,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versor Investments LP bought a new position in shares of Dover during the third quarter valued at about $1,920,000. Brendel Financial Advisors LLC lifted its position in Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 17,685 shares during the last quarter. Empowered Funds LLC lifted its position in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after purchasing an additional 4,629 shares during the last quarter. National Pension Service boosted its stake in shares of Dover by 3.0% during the third quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock valued at $41,418,000 after purchasing an additional 6,241 shares during the period. Finally, Custom Index Systems LLC grew its holdings in shares of Dover by 91.0% in the third quarter. Custom Index Systems LLC now owns 7,791 shares of the industrial products company’s stock worth $1,494,000 after purchasing an additional 3,713 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.1 %

Shares of NYSE:DOV opened at $201.14 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a 52-week low of $143.96 and a 52-week high of $208.26. The firm has a market capitalization of $27.59 billion, a P/E ratio of 17.99, a P/E/G ratio of 2.71 and a beta of 1.22. The stock has a 50 day moving average price of $196.85 and a 200-day moving average price of $187.18.

Dover Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Mizuho increased their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup raised their target price on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.00.

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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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