Kornitzer Capital Management Inc. KS Has $1.27 Million Holdings in Dover Corporation $DOV

Kornitzer Capital Management Inc. KS increased its holdings in shares of Dover Corporation (NYSE:DOV) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,911 shares of the industrial products company’s stock after purchasing an additional 60 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Dover were worth $1,266,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the last quarter. GAMMA Investing LLC raised its holdings in Dover by 104.5% during the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company’s stock worth $563,000 after acquiring an additional 1,638 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Dover by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,231 shares of the industrial products company’s stock valued at $2,852,000 after purchasing an additional 695 shares during the last quarter. Spire Wealth Management grew its stake in Dover by 8.1% in the first quarter. Spire Wealth Management now owns 2,675 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 200 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Dover by 4.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,982 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $177.64 on Monday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.40 and a beta of 1.26. The company has a 50-day simple moving average of $172.13 and a 200 day simple moving average of $176.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. On average, sell-side analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DOV shares. Citigroup reissued a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird set a $235.00 price objective on shares of Dover in a research report on Friday. Royal Bank Of Canada upped their target price on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday. UBS Group set a $200.00 target price on shares of Dover in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.00.

Dover Profile

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.