Groupama Asset Managment Makes New $1.64 Million Investment in Dover Corporation $DOV

Groupama Asset Managment purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,957 shares of the industrial products company’s stock, valued at approximately $1,642,000.

Several other large investors also recently modified their holdings of DOV. Vanguard Group Inc. lifted its holdings in Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after acquiring an additional 231,146 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dover by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the period. Nuveen LLC purchased a new position in shares of Dover in the first quarter worth approximately $526,081,000. Franklin Resources Inc. grew its position in Dover by 3.8% during the second quarter. Franklin Resources Inc. now owns 1,470,428 shares of the industrial products company’s stock valued at $269,427,000 after buying an additional 53,539 shares during the period. Finally, Invesco Ltd. increased its holdings in Dover by 7.9% during 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 during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOV. Robert W. Baird set a $235.00 price objective on shares of Dover in a research report on Friday, October 24th. Morgan Stanley upped their price target on Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dover in a research report on Tuesday. Royal Bank Of Canada increased their target price on shares of Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average price target of $212.27.

Dover Trading Down 0.5%

DOV stock opened at $185.28 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 business has a 50 day simple moving average of $174.36 and a two-hundred day simple moving average of $178.36. The company has a market capitalization of $25.41 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.40 and a beta of 1.29.

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

Dover Dividend Announcement

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