Principal Financial Group Inc. Buys 5,372 Shares of Dover Co. (NYSE:DOV)

Principal Financial Group Inc. boosted its position in shares of Dover Co. (NYSE:DOV) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,844 shares of the industrial products company’s stock after acquiring an additional 5,372 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Dover worth $34,100,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Atomi Financial Group Inc. bought a new position in Dover in the second quarter worth $293,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Dover by 13.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,489 shares of the industrial products company’s stock worth $3,336,000 after acquiring an additional 2,178 shares during the period. McClarren Financial Advisors Inc. boosted its position in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Dover by 104.5% in the second quarter. Rosenberg Matthew Hamilton now owns 319 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 163 shares during the period. Finally, HB Wealth Management LLC raised its position in Dover by 31.5% in the second quarter. HB Wealth Management LLC now owns 7,462 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,788 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DOV shares. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.91.

Dover Trading Down 0.2 %

DOV opened at $188.81 on Tuesday. Dover Co. has a fifty-two week low of $143.96 and a fifty-two week high of $208.26. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $197.73 and a 200 day simple moving average of $187.94.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. Dover’s dividend payout ratio is currently 18.43%.

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.