KFA Private Wealth Group LLC Purchases New Stake in Dover Corporation $DOV

KFA Private Wealth Group LLC acquired a new stake in shares of Dover Corporation (NYSE:DOV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,518 shares of the industrial products company’s stock, valued at approximately $461,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. boosted its stake in Dover by 1.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after purchasing an additional 57 shares during the last quarter. Summit Financial LLC boosted its position in shares of Dover by 0.9% during 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 during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Dover by 0.3% during the 2nd 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 acquiring an additional 67 shares during the last quarter. Rockland Trust Co. boosted its holdings in Dover by 0.4% during the 2nd quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company’s stock worth $2,819,000 after acquiring an additional 68 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its holdings in Dover by 5.5% during the 1st quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.4%

NYSE:DOV opened at $161.64 on Friday. The company has a market cap of $22.17 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. The stock’s fifty day moving average price is $173.71 and its two-hundred day moving average price is $175.84. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.

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

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Dover’s payout ratio is currently 12.55%.

Analysts Set New Price Targets

DOV has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Barclays reduced their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Robert W. Baird boosted their price objective on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Citigroup restated a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company 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.