Dover Corporation $DOV Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC trimmed its position in Dover Corporation (NYSE:DOV) by 2.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,089 shares of the industrial products company’s stock after selling 80 shares during the quarter. Ingalls & Snyder LLC’s holdings in Dover were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Legacy Financial Advisors Inc. boosted its holdings in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after buying an additional 57 shares during the last quarter. Summit Financial LLC boosted its holdings in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after buying an additional 60 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Dover by 0.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock worth $3,971,000 after purchasing an additional 67 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer lowered their target price on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Robert W. Baird set a $235.00 target price on Dover in a report on Friday. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup restated a “buy” rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Barclays boosted their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Dover Stock Down 2.0%

DOV stock opened at $177.64 on Monday. The firm has a market cap of $24.36 billion, a PE ratio of 10.92, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The firm’s 50 day moving average price is $172.13 and its 200-day moving average price is $176.10. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s dividend payout ratio is presently 12.55%.

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.