MeadowBrook Investment Advisors LLC Has $1.40 Million Position in Dover Corporation $DOV

MeadowBrook Investment Advisors LLC reduced its position in shares of Dover Corporation (NYSE:DOV) by 1.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,618 shares of the industrial products company’s stock after selling 75 shares during the quarter. Dover accounts for about 1.3% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Dover were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. North Capital Inc. bought a new position in shares of Dover during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the 1st quarter valued at $31,000. Harbour Investments Inc. lifted its position 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 valued at $32,000 after acquiring an additional 60 shares during the period. Truvestments Capital LLC raised its holdings in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Dover during the 2nd quarter worth $33,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOV has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. upped their target price on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Barclays upped their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Finally, UBS Group set a $200.00 price objective on Dover in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $211.55.

Dover Price Performance

Shares of NYSE DOV opened at $180.45 on Thursday. The stock has a fifty day simple moving average of $172.18 and a two-hundred day simple moving average of $176.45. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data 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. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is 12.79%.

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.