Triton Financial Group Inc Invests $1.44 Million in Dover Corporation $DOV

Triton Financial Group Inc bought a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel reports. The institutional investor bought 7,855 shares of the industrial products company’s stock, valued at approximately $1,439,000.

A number of other institutional investors have also made changes to their positions in the company. Pittenger & Anderson Inc. lifted its position in shares of Dover by 1.7% during the second quarter. Pittenger & Anderson Inc. now owns 37,060 shares of the industrial products company’s stock worth $6,791,000 after purchasing an additional 605 shares in the last quarter. Parthenon LLC lifted its position in shares of Dover by 0.4% during the second quarter. Parthenon LLC now owns 107,337 shares of the industrial products company’s stock worth $19,667,000 after purchasing an additional 417 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Dover during the second quarter worth $12,881,000. Chevy Chase Trust Holdings LLC increased its stake in shares of Dover by 0.6% in the second quarter. Chevy Chase Trust Holdings LLC now owns 75,299 shares of the industrial products company’s stock worth $13,797,000 after buying an additional 449 shares during the last quarter. Finally, Arista Wealth Management LLC bought a new stake in shares of Dover in the second quarter worth $336,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Citigroup restated a “buy” rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Finally, Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $212.25.

Dover Stock Up 1.5%

Shares of NYSE:DOV opened at $169.00 on Tuesday. The stock has a market capitalization of $23.18 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company’s fifty day moving average is $172.47 and its two-hundred day moving average is $175.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

Dover (NYSE:DOV) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. Equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.52 per share. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s payout ratio is currently 12.55%.

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.