Dover Corporation $DOV Stake Raised by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC boosted its stake in shares of Dover Corporation (NYSE:DOV) by 13.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,226 shares of the industrial products company’s stock after purchasing an additional 509 shares during the period. Sound Financial Strategies Group LLC’s holdings in Dover were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. Legacy Financial Advisors Inc. raised its stake in shares of Dover by 1.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 57 shares in the last quarter. Summit Financial LLC grew its position in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after acquiring an additional 60 shares in the last quarter. Harbour Investments Inc. increased its stake 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 lifted its stake in shares of Dover by 0.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $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 Dover by 0.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group set a $200.00 price target on shares of Dover in a report on Friday, October 24th. Weiss Ratings lowered Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Oppenheimer reduced 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. Wells Fargo & Company boosted their price objective on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Finally, Royal Bank Of Canada upped their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Stock Down 0.6%

Dover stock opened at $178.50 on Friday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a market cap of $24.48 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.40 and a beta of 1.29. The company’s 50-day moving average price is $171.96 and its two-hundred day moving average price is $177.07. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover’s payout ratio is 12.79%.

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.