Prudential Financial Inc. Has $55.53 Million Stock Position in Dover Corporation $DOV

Prudential Financial Inc. raised its holdings in shares of Dover Corporation (NYSE:DOV) by 22.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 303,081 shares of the industrial products company’s stock after buying an additional 55,926 shares during the period. Prudential Financial Inc.’s holdings in Dover were worth $55,534,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DOV. AdvisorShares Investments LLC bought a new position in Dover in the second quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the 1st quarter worth about $31,000. Harbour Investments Inc. grew its holdings in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in Dover during the second quarter worth about $33,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOV. Barclays raised their price target on Dover from $190.00 to $195.00 and gave the company 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 note on Friday, October 24th. Oppenheimer upped their price target on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Wells Fargo & Company lifted their price objective on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings lowered shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $212.27.

Dover Price Performance

NYSE:DOV opened at $183.21 on Tuesday. The company has a market cap of $25.13 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.40 and a beta of 1.29. The firm’s fifty day moving average price is $173.25 and its two-hundred day moving average price is $178.22. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. 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 (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The company had revenue of $1.78 billion during the quarter. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

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.