Assetmark Inc. Buys 6,225 Shares of Dover Corporation $DOV

Assetmark Inc. boosted its stake in Dover Corporation (NYSE:DOV) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,363 shares of the industrial products company’s stock after acquiring an additional 6,225 shares during the period. Assetmark Inc.’s holdings in Dover were worth $11,427,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. boosted its position in shares of 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 in the last quarter. Summit Financial LLC boosted its position in shares of Dover by 0.9% during the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after purchasing an additional 60 shares in the last quarter. Harbour Investments Inc. boosted its position 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 valued at $32,000 after purchasing an additional 60 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $1,266,000 after purchasing an additional 60 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of 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 valued at $3,971,000 after purchasing an additional 67 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 0.9%

Shares of NYSE:DOV opened at $181.80 on Friday. The business’s 50 day simple moving average is $172.22 and its two-hundred day simple moving average is $176.69. The firm has a market cap of $24.93 billion, a P/E ratio of 11.18, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

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 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion for the quarter. As a group, research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio is 12.79%.

Analyst Upgrades and Downgrades

DOV has been the topic of several research analyst reports. Robert W. Baird set a $235.00 target price on Dover in a research report on Friday, October 24th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Royal Bank Of Canada upped their target price on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. UBS Group set a $200.00 price target on Dover in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. increased their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Six 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 presently has an average rating of “Moderate Buy” and a consensus price target of $211.55.

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.