Geode Capital Management LLC Has $616.95 Million Holdings in Dover Co. (NYSE:DOV)

Geode Capital Management LLC raised its holdings in shares of Dover Co. (NYSE:DOV) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 3,228,716 shares of the industrial products company’s stock after buying an additional 25,993 shares during the quarter. Geode Capital Management LLC’s holdings in Dover were worth $616,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Abel Hall LLC bought a new stake in shares of Dover in the 3rd quarter worth approximately $203,000. Barclays PLC grew its position in Dover by 26.6% in the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after acquiring an additional 75,670 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Dover by 2.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 241,784 shares of the industrial products company’s stock worth $46,360,000 after acquiring an additional 6,808 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Dover by 59.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 3,948 shares of the industrial products company’s stock valued at $757,000 after acquiring an additional 1,476 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Dover by 4.4% in the 3rd quarter. MML Investors Services LLC now owns 16,753 shares of the industrial products company’s stock valued at $3,212,000 after purchasing an additional 708 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the subject of several analyst reports. Mizuho lifted their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays lifted their target price on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their target price on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $213.91.

Dover Stock Performance

Shares of NYSE:DOV opened at $201.36 on Friday. The stock has a market capitalization of $27.62 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.71 and a beta of 1.22. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 1-year low of $143.96 and a 1-year high of $208.26. The business has a 50-day moving average price of $197.08 and a two-hundred day moving average price of $187.28.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.02%. Dover’s payout ratio is presently 18.43%.

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.