Sequoia Financial Advisors LLC Raises Position in Dover Corporation $DOV

Sequoia Financial Advisors LLC lifted its stake in Dover Corporation (NYSE:DOV) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,094 shares of the industrial products company’s stock after acquiring an additional 112 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Dover were worth $567,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock worth $349,000 after buying an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock worth $2,227,000 after buying an additional 1,160 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock worth $106,000 after buying an additional 187 shares during the period. Heartland Bank & Trust Co purchased a new stake in shares of Dover in the first quarter worth about $739,000. Finally, Hsbc Holdings PLC boosted its holdings 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 purchasing an additional 268,931 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.2%

NYSE:DOV opened at $166.44 on Monday. 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 business’s 50 day moving average is $172.60 and its two-hundred day moving average is $175.43. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market cap of $22.82 billion, a PE ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.52 per share. 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 a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 12.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their price target on Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. increased their price target on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Barclays reduced their price target on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Robert W. Baird increased their price target on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, 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. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.67.

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.