Rehmann Capital Advisory Group Purchases 264 Shares of Dover Corporation $DOV

Rehmann Capital Advisory Group raised its position in shares of Dover Corporation (NYSE:DOV) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,497 shares of the industrial products company’s stock after purchasing an additional 264 shares during the period. Rehmann Capital Advisory Group’s holdings in Dover were worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of Dover by 707.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock worth $2,227,000 after acquiring an additional 1,160 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Dover in the 1st quarter worth $374,000. Finally, GAMMA Investing LLC raised its position in shares of Dover by 104.5% in the 1st 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. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DOV shares. Barclays reduced their price target on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. 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 research report on Monday, October 6th. JPMorgan Chase & Co. boosted their target price on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Citigroup restated 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, Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $212.25.

Dover Stock Down 3.3%

Dover stock opened at $167.37 on Thursday. 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 business’s 50-day simple moving average is $172.07 and its two-hundred day simple moving average is $175.46. The company has a market cap of $22.95 billion, a PE ratio of 10.09, a PEG ratio of 1.38 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

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

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. 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 yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is currently 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.