Connors Investor Services Inc. Purchases 16,511 Shares of Dover Corporation $DOV

Connors Investor Services Inc. raised its stake in shares of Dover Corporation (NYSE:DOV) by 25.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 81,363 shares of the industrial products company’s stock after acquiring an additional 16,511 shares during the period. Connors Investor Services Inc.’s holdings in Dover were worth $14,908,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DOV. North Capital Inc. bought a new position in Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in Dover during the 1st quarter valued at $31,000. Harbour Investments Inc. lifted its stake in Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Truvestments Capital LLC lifted its stake in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in shares of Dover during the 2nd quarter worth $33,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lowered their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Robert W. Baird lifted their target price on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their target price on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Citigroup reiterated a “buy” rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Finally, Wells Fargo & Company decreased their price objective on Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.25.

Dover Trading Down 3.3%

Shares of DOV opened at $167.37 on Thursday. The business has a 50-day moving average of $172.07 and a 200 day moving average of $175.46. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market cap of $22.95 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

Dover (NYSE:DOV) last posted its 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%. As a group, research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is presently 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.