DAVENPORT & Co LLC Increases Stock Position in Dover Corporation $DOV

DAVENPORT & Co LLC increased its position in Dover Corporation (NYSE:DOV) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,302 shares of the industrial products company’s stock after purchasing an additional 207 shares during the quarter. DAVENPORT & Co LLC’s holdings in Dover were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DOV. North Capital Inc. purchased a new stake in shares of Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover during the 1st quarter valued at approximately $31,000. Truvestments Capital LLC grew its stake in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 171 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of Dover during the 2nd quarter valued at approximately $33,000. Finally, Costello Asset Management INC purchased a new position in shares of Dover during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.4%

Shares of NYSE:DOV opened at $161.64 on Friday. The company’s 50-day moving average price is $173.71 and its 200 day moving average price is $175.84. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a market cap of $22.17 billion, a PE ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

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

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Dover’s payout ratio is presently 12.55%.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Citigroup reiterated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird increased their target price on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Barclays reduced their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $212.42.

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.