Truist Financial Corp Purchases 576 Shares of Dover Co. (NYSE:DOV)

Truist Financial Corp increased its stake in shares of Dover Co. (NYSE:DOV) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,911 shares of the industrial products company’s stock after buying an additional 576 shares during the quarter. Truist Financial Corp’s holdings in Dover were worth $8,988,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc grew its holdings in Dover by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 21,445 shares of the industrial products company’s stock worth $4,023,000 after buying an additional 858 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Dover during the fourth quarter worth $68,000. Game Plan Financial Advisors LLC grew its holdings in Dover by 11.0% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,584 shares of the industrial products company’s stock worth $1,604,000 after buying an additional 852 shares in the last quarter. Allworth Financial LP grew its holdings in Dover by 10.3% during the fourth quarter. Allworth Financial LP now owns 2,751 shares of the industrial products company’s stock worth $547,000 after buying an additional 258 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in Dover by 43.4% during the fourth quarter. Principal Securities Inc. now owns 2,384 shares of the industrial products company’s stock worth $447,000 after buying an additional 722 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Barclays upped their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Down 2.9 %

Shares of NYSE DOV opened at $200.43 on Friday. Dover Co. has a one year low of $161.19 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The business’s fifty day moving average price is $195.51 and its 200-day moving average price is $192.47. The stock has a market capitalization of $27.51 billion, a PE ratio of 10.30, a P/E/G ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities research analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. Dover’s dividend payout ratio (DPR) is 10.59%.

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.