Mcdaniel Terry & Co. Sells 514 Shares of Dover Corporation $DOV

Mcdaniel Terry & Co. lessened its position in shares of Dover Corporation (NYSE:DOV) by 0.2% in the second quarter, HoldingsChannel.com reports. The firm owned 219,843 shares of the industrial products company’s stock after selling 514 shares during the quarter. Dover accounts for approximately 3.3% of Mcdaniel Terry & Co.’s portfolio, making the stock its 9th biggest holding. Mcdaniel Terry & Co.’s holdings in Dover were worth $40,282,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC raised its stake in Dover by 152.7% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,352 shares of the industrial products company’s stock worth $798,000 after buying an additional 2,630 shares during the last quarter. AlphaQuest LLC raised its position in shares of Dover by 124.8% in the 2nd quarter. AlphaQuest LLC now owns 21,795 shares of the industrial products company’s stock worth $3,993,000 after acquiring an additional 12,101 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Dover by 4.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 360,506 shares of the industrial products company’s stock valued at $66,056,000 after purchasing an additional 15,408 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Dover during the 2nd quarter valued at about $83,000. Finally, Connors Investor Services Inc. increased its holdings in Dover by 25.5% in the second quarter. Connors Investor Services Inc. now owns 81,363 shares of the industrial products company’s stock worth $14,908,000 after purchasing an additional 16,511 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Shares of DOV opened at $177.64 on Friday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a 50 day moving average price of $172.13 and a two-hundred day moving average price of $175.85. The firm has a market capitalization of $24.36 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.43 and a beta of 1.26.

Dover (NYSE:DOV) last announced its quarterly earnings results 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 17.91% and a net margin of 28.37%.The business had revenue of $1.78 billion during the quarter. Equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s payout ratio is presently 12.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup restated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Wells Fargo & Company raised their target price on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Weiss Ratings lowered Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $212.00.

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.