Dover Corporation $DOV Shares Bought by MGO One Seven LLC

MGO One Seven LLC increased its holdings in shares of Dover Corporation (NYSE:DOV) by 6.3% in the second quarter, Holdings Channel reports. The firm owned 2,391 shares of the industrial products company’s stock after acquiring an additional 141 shares during the period. MGO One Seven LLC’s holdings in Dover were worth $438,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Dover in the first quarter worth about $526,081,000. Hsbc Holdings PLC grew its position in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Strs Ohio purchased a new stake in shares of Dover during the first quarter valued at approximately $40,148,000. Auto Owners Insurance Co raised its stake in shares of Dover by 4,768.6% during the first quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock valued at $33,358,000 after purchasing an additional 185,977 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Dover by 595.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 183,436 shares of the industrial products company’s stock valued at $33,611,000 after purchasing an additional 157,050 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Barclays cut their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $212.67.

Dover Trading Up 0.2%

Shares of NYSE DOV opened at $166.44 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 stock’s 50 day moving average price is $172.60 and its two-hundred day moving average price is $175.34. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The stock has a market capitalization of $22.82 billion, a P/E ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26.

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

Dover Increases Dividend

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

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.