Inscription Capital LLC bought a new stake in Dover Co. (NYSE:DOV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,335 shares of the industrial products company’s stock, valued at approximately $502,000.
Other hedge funds have also recently bought and sold shares of the company. Credit Agricole S A purchased a new position in shares of Dover in the 1st quarter worth about $27,000. Harvest Fund Management Co. Ltd increased its position in Dover by 334.8% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 287 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 221 shares in the last quarter. Clean Yield Group purchased a new position in Dover in the second quarter valued at approximately $50,000. Concord Wealth Partners lifted its position in Dover by 101.9% during the first quarter. Concord Wealth Partners now owns 416 shares of the industrial products company’s stock valued at $57,000 after buying an additional 210 shares in the last quarter. Finally, Pflug Koory LLC purchased a new stake in Dover during the second quarter worth approximately $64,000. 84.00% of the stock is owned by hedge funds and other institutional investors.
DOV has been the topic of several research reports. Barclays raised their price objective on Dover from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. They noted that the move was a valuation call. Vertical Research assumed coverage on Dover in a report on Friday, October 8th. They set a “sell” rating and a $152.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Dover from $167.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, July 21st. Wells Fargo & Company began coverage on shares of Dover in a research report on Thursday, October 7th. They issued an “underweight” rating and a $152.00 price objective for the company. Finally, Morgan Stanley reduced their target price on shares of Dover from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $165.00.
Dover (NYSE:DOV) last released its quarterly earnings results on Monday, July 19th. The industrial products company reported $2.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.22. Dover had a return on equity of 29.42% and a net margin of 11.84%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. As a group, equities analysts anticipate that Dover Co. will post 7.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were paid a $0.50 dividend. This is a boost from Dover’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. Dover’s dividend payout ratio is presently 35.27%.
Dover Corp. engages in the manufacture of equipment, components, and specialty systems. The firm also provides supporting engineering, testing, and other similar services. It operates through the following segments: Engineered Products, Fueling Solutions, Imaging and Identification, Pumps and Process Solutions, and Refrigeration and Food Equipment.
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