Public Sector Pension Investment Board Purchases 700 Shares of Dover Co. (NYSE:DOV)

Public Sector Pension Investment Board raised its position in Dover Co. (NYSE:DOV) by 13.3% during the third quarter, Holdings Channel reports. The fund owned 5,959 shares of the industrial products company’s stock after acquiring an additional 700 shares during the period. Public Sector Pension Investment Board’s holdings in Dover were worth $1,143,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance increased its stake in shares of Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after purchasing an additional 58 shares in the last quarter. Main Street Financial Solutions LLC increased its position in Dover by 2.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after buying an additional 60 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after buying an additional 63 shares during the period. Empower Advisory Group LLC lifted its position in shares of Dover by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after buying an additional 73 shares in the last quarter. Finally, First Commonwealth Financial Corp PA grew its stake in shares of Dover by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 73 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 0.2 %

Shares of NYSE DOV opened at $201.46 on Friday. The business’s 50 day moving average is $196.21 and its two-hundred day moving average is $186.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover Co. has a 1-year low of $142.44 and a 1-year high of $208.26. The stock has a market capitalization of $27.64 billion, a P/E ratio of 18.02, a PEG ratio of 2.73 and a beta of 1.22.

Dover Dividend Announcement

The business 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 dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Mizuho upped their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $209.90.

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.