3,724 Shares in Dover Corporation (NYSE:DOV) Bought by Harfst & Associates Inc.

Harfst & Associates Inc. purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,724 shares of the industrial products company’s stock, valued at approximately $654,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. bought a new stake in Dover during the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover during the first quarter valued at about $31,000. Costello Asset Management INC bought a new stake in Dover during the first quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in Dover during the fourth quarter valued at about $43,000. Finally, SouthState Corp bought a new stake in Dover during the first quarter valued at about $43,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Barclays lifted their target price on Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Mizuho lifted their target price on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $213.92.

Dover Stock Up 2.7%

Shares of NYSE:DOV opened at $182.79 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a market capitalization of $25.07 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The business has a 50 day simple moving average of $182.31 and a two-hundred day simple moving average of $181.91. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. Dover’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 earnings per share. On average, equities analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover’s payout ratio is presently 12.42%.

Dover 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.