JPMorgan Chase & Co. Has $1.99 Billion Stock Holdings in Dover Co. (NYSE:DOV)

JPMorgan Chase & Co. lowered its stake in shares of Dover Co. (NYSE:DOV) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,384,695 shares of the industrial products company’s stock after selling 467,700 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Dover worth $1,991,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Dover during the third quarter worth $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter valued at about $34,000. Ashton Thomas Private Wealth LLC acquired a new position in Dover during the 2nd quarter valued at about $41,000. Avior Wealth Management LLC increased its holdings in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of Dover in the third quarter worth approximately $50,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DOV shares. Citigroup upped their price target on Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. Finally, Barclays upped their target price on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $213.91.

Dover Trading Up 0.3 %

Shares of DOV opened at $190.91 on Friday. Dover Co. has a fifty-two week low of $143.96 and a fifty-two week high of $208.26. The business has a 50-day moving average of $197.58 and a 200 day moving average of $188.07. The firm has a market cap of $26.19 billion, a P/E ratio of 17.08, 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 quick ratio of 1.06 and a current ratio of 1.57.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Dover 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.