Dover Corporation $DOV Shares Sold by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH reduced its holdings in shares of Dover Corporation (NYSE:DOV) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,543 shares of the industrial products company’s stock after selling 1,232 shares during the quarter. Dover accounts for about 2.1% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 25th largest holding. North Point Portfolio Managers Corp OH’s holdings in Dover were worth $12,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. North Capital Inc. acquired a new stake in Dover in the first quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover in the 1st quarter worth about $31,000. Harbour Investments Inc. raised its stake 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 worth $32,000 after purchasing an additional 60 shares in the last quarter. Truvestments Capital LLC raised its stake 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 purchasing an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new position in shares of Dover in the 2nd quarter valued at approximately $33,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.2%

Shares of Dover stock opened at $166.44 on Monday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The business has a 50-day moving average of $172.60 and a two-hundred day moving average of $175.43. The company has a market capitalization of $22.82 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. 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 quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $1.78 billion during the quarter. As a group, equities analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid 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 1.2%. Dover’s dividend payout ratio is 12.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOV. Wells Fargo & Company lowered their target price on Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Citigroup reissued a “buy” rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.67.

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.