Inscription Capital LLC Invests $502,000 in Dover Co. (NYSE:DOV)

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.

Shares of NYSE:DOV opened at $157.38 on Thursday. Dover Co. has a fifty-two week low of $108.00 and a fifty-two week high of $176.46. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 0.83. The company has a market cap of $22.66 billion, a PE ratio of 25.97, a P/E/G ratio of 2.01 and a beta of 1.39. The company’s 50-day moving average price is $167.47 and its 200 day moving average price is $156.24.

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 Profile

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.

Read More: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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