Scotia Capital Inc. Increases Holdings in Dover Corporation (NYSE:DOV)

Scotia Capital Inc. increased its stake in shares of Dover Corporation (NYSE:DOV) by 9.5% during the first quarter, HoldingsChannel.com reports. The firm owned 23,131 shares of the industrial products company’s stock after buying an additional 2,000 shares during the period. Scotia Capital Inc.’s holdings in Dover were worth $4,064,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DOV. North Capital Inc. bought a new stake in shares of Dover during the first quarter valued at about $29,000. N.E.W. Advisory Services LLC purchased a new position in Dover during the first quarter valued at approximately $31,000. Orion Capital Management LLC bought a new stake in Dover during the 4th quarter worth approximately $43,000. Ameriflex Group Inc. purchased a new stake in Dover in the 4th quarter worth approximately $69,000. Finally, Quarry LP boosted its holdings in Dover by 257.0% in the 4th quarter. Quarry LP now owns 407 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 293 shares during the period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Mizuho upped their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Finally, Citigroup reiterated a “buy” rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Six investment analysts have rated the stock with a hold rating and seven have given a buy 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 $213.92.

Dover Trading Up 0.6%

Shares of DOV opened at $176.09 on Tuesday. 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 $24.15 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.39 and a beta of 1.26. The firm has a 50 day moving average price of $182.61 and a 200-day moving average price of $182.75. 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 quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.36 earnings per share. As a group, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

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.