Tectonic Advisors LLC Increases Stock Position in Dover Corporation $DOV

Tectonic Advisors LLC raised its holdings in Dover Corporation (NYSE:DOV) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,040 shares of the industrial products company’s stock after purchasing an additional 81 shares during the period. Tectonic Advisors LLC’s holdings in Dover were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Trifecta Capital Advisors LLC lifted its holdings in shares of Dover by 2,304.0% in the second quarter. Trifecta Capital Advisors LLC now owns 2,404 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 2,304 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Dover by 36.7% during the second quarter. Vontobel Holding Ltd. now owns 13,917 shares of the industrial products company’s stock valued at $2,550,000 after buying an additional 3,740 shares during the period. Castle Rock Wealth Management LLC purchased a new position in shares of Dover during the second quarter valued at approximately $1,966,000. Matisse Capital purchased a new position in shares of Dover during the second quarter valued at approximately $424,000. Finally, Shell Asset Management Co. lifted its stake in shares of Dover by 116.9% during the second quarter. Shell Asset Management Co. now owns 7,397 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 3,987 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DOV shares. Robert W. Baird upped their price objective on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Wells Fargo & Company reduced their price objective on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Mizuho increased their price target on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $212.42.

Dover Stock Performance

NYSE:DOV opened at $161.64 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. 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. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm’s 50 day moving average is $173.71 and its two-hundred day moving average is $175.84.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Dover’s dividend payout ratio (DPR) is currently 12.55%.

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.