ProShare Advisors LLC Grows Position in Dover Corporation $DOV

ProShare Advisors LLC raised its position in Dover Corporation (NYSE:DOV) by 11.5% in the second quarter, Holdings Channel reports. The fund owned 975,551 shares of the industrial products company’s stock after buying an additional 100,849 shares during the period. ProShare Advisors LLC’s holdings in Dover were worth $178,750,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. lifted its position 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 during the last quarter. Summit Financial LLC raised its stake in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after buying an additional 60 shares in the last quarter. Harbour Investments Inc. lifted its holdings in 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 buying an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position 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 acquiring an additional 60 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Dover by 4.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 60 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DOV shares. Citigroup reaffirmed a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Wells Fargo & Company upped their target price on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Oppenheimer decreased their price objective on shares of Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Morgan Stanley lifted their target price on Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Stock Performance

NYSE DOV opened at $180.34 on Monday. The business’s 50-day moving average price is $171.99 and its 200 day moving average price is $177.40. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24.73 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.40 and a beta of 1.29. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share 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 expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $0.52 dividend. The ex-dividend date is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s dividend payout ratio (DPR) is presently 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.