New Hampshire Trust Cuts Stock Holdings in Dover Corporation $DOV

New Hampshire Trust lowered its stake in shares of Dover Corporation (NYSE:DOV) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,006 shares of the industrial products company’s stock after selling 75 shares during the quarter. New Hampshire Trust’s holdings in Dover were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. North Capital Inc. purchased a new stake in shares of Dover during the first quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover in the first quarter valued at approximately $31,000. Harbour Investments Inc. boosted its stake in Dover by 51.7% in the second 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 boosted its stake in Dover by 1,005.9% in the first 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. acquired a new position in shares of Dover in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DOV. Wells Fargo & Company lifted their target price on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada lifted 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. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday. Finally, UBS Group set a $200.00 target price on shares of Dover in a report on Friday. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.00.

Dover Price Performance

Shares of NYSE DOV opened at $177.64 on Friday. The firm has a market capitalization of $24.36 billion, a P/E ratio of 10.92, a PEG ratio of 1.40 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. The company’s fifty day moving average is $172.13 and its two-hundred day moving average is $176.03. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.91%. The business had revenue of $1.78 billion for the quarter. Analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s dividend payout ratio (DPR) is 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.