Dover Corporation $DOV Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Dover Corporation (NYSE:DOV) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,470,428 shares of the industrial products company’s stock after purchasing an additional 53,539 shares during the period. Franklin Resources Inc. owned about 1.07% of Dover worth $269,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AdvisorShares Investments LLC purchased a new position in shares of Dover during the 2nd quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the first quarter worth $31,000. Harbour Investments Inc. grew its holdings in Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Truvestments Capital LLC raised its position in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new stake in Dover in the second quarter valued at $33,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DOV. Barclays upped their price target on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Robert W. Baird set a $235.00 target price on shares of Dover in a research report on Friday, October 24th. UBS Group set a $200.00 price target on shares of Dover in a research report on Friday, October 24th. Oppenheimer upped their price target on Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Finally, Wells Fargo & Company raised their price objective on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $212.27.

Dover Trading Up 3.1%

Shares of DOV opened at $183.59 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The firm has a 50 day simple moving average of $173.02 and a 200-day simple moving average of $178.11.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Equities analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio is 12.79%.

Dover Company 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.