Dover Corporation $DOV Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its holdings in Dover Corporation (NYSE:DOV) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,040 shares of the industrial products company’s stock after buying an additional 81 shares during the quarter. Tectonic Advisors LLC’s holdings in Dover were worth $557,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DOV. Brighton Jones LLC grew its holdings in Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Dover by 45.4% during the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Dover during the 1st quarter valued at $203,000. GAMMA Investing LLC grew its holdings in Dover by 104.5% during the 1st quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,638 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Dover by 16.6% during the 1st quarter. Handelsbanken Fonder AB now owns 58,467 shares of the industrial products company’s stock valued at $10,271,000 after purchasing an additional 8,330 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 0.4%

Dover stock opened at $161.64 on Friday. The firm’s 50-day moving average is $173.71 and its 200-day moving average is $175.84. 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 Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a market cap of $22.17 billion, a P/E ratio of 9.75, a PEG ratio of 1.29 and a beta of 1.26.

Dover (NYSE:DOV) last posted its quarterly 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 29.29% and a return on equity of 18.19%. The company had revenue of $1.78 billion for the quarter. On average, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is 12.55%.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered 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 reaffirmed a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Mizuho raised their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Barclays decreased their price objective on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Finally, Robert W. Baird raised their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.42.

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.