Fifth Third Wealth Advisors LLC Has $366,000 Holdings in Dover Corporation $DOV

Fifth Third Wealth Advisors LLC raised its position in Dover Corporation (NYSE:DOV) by 14.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,999 shares of the industrial products company’s stock after purchasing an additional 259 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Dover were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Dover by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock valued at $2,870,986,000 after buying an additional 106,679 shares in the last quarter. Nuveen LLC acquired a new position in Dover in the first quarter valued at about $526,081,000. Invesco Ltd. boosted its position in Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after buying an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock valued at $172,759,000 after buying an additional 19,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock valued at $147,680,000 after buying an additional 12,518 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.0%

DOV opened at $161.42 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. The firm has a 50 day simple moving average of $173.42 and a 200 day simple moving average of $175.68. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business had revenue of $1.78 billion during the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.3%. Dover’s payout ratio is currently 12.55%.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of research reports. Royal Bank Of Canada upped their target price on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Barclays reduced their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Citigroup reiterated a “buy” rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.42.

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.