Apollon Wealth Management LLC Has $984,000 Holdings in Dover Corporation $DOV

Apollon Wealth Management LLC cut its position in shares of Dover Corporation (NYSE:DOV) by 3.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,371 shares of the industrial products company’s stock after selling 220 shares during the quarter. Apollon Wealth Management LLC’s holdings in Dover were worth $984,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. increased its position in shares of Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after buying an additional 57 shares during the period. Summit Financial LLC grew its holdings in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after purchasing an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Dover by 0.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock worth $3,971,000 after purchasing an additional 67 shares during the period. Rockland Trust Co. grew its holdings in Dover by 0.4% in the second quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company’s stock worth $2,819,000 after purchasing an additional 68 shares during the period. Finally, Premier Path Wealth Partners LLC grew its holdings in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 80 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.9%

Shares of NYSE DOV opened at $162.58 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a 50-day moving average price of $173.13 and a 200-day moving average price of $175.59. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market capitalization of $22.29 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.28 and a beta of 1.26.

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 29.29% and a return on equity of 18.19%. The company had revenue of $1.78 billion for the quarter. On average, equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal 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 given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Dover’s payout ratio is 12.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Citigroup restated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Royal Bank Of Canada raised their price target on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Robert W. Baird raised their price target on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $212.42.

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.