Cornerstone Wealth Management LLC Buys 381 Shares of Dover Co. (NYSE:DOV)

Cornerstone Wealth Management LLC lifted its holdings in shares of Dover Co. (NYSE:DOV) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,518 shares of the industrial products company’s stock after acquiring an additional 381 shares during the period. Cornerstone Wealth Management LLC’s holdings in Dover were worth $4,975,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versor Investments LP acquired a new position in shares of Dover during the 3rd quarter worth $1,920,000. Brendel Financial Advisors LLC raised its holdings in shares of Dover by 347.7% during the 3rd quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 17,685 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 0.1 %

Shares of Dover stock opened at $198.98 on Friday. Dover Co. has a one year low of $147.98 and a one year high of $208.26. 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 stock’s 50-day moving average is $195.72 and its 200 day moving average is $189.53. The firm has a market cap of $27.30 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.03 and a beta of 1.23.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. Dover’s payout ratio is 18.43%.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent research reports. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. Oppenheimer reaffirmed 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. Finally, Citigroup decreased their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Five research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.55.

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.