North Point Portfolio Managers Corp OH Has $12.38 Million Stock Holdings in Dover Corporation $DOV

North Point Portfolio Managers Corp OH trimmed its holdings in Dover Corporation (NYSE:DOV) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 67,543 shares of the industrial products company’s stock after selling 1,232 shares during the quarter. Dover comprises about 2.1% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 25th largest position. North Point Portfolio Managers Corp OH’s holdings in Dover were worth $12,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Legacy Financial Advisors Inc. increased its position in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after buying an additional 57 shares in the last quarter. Summit Financial LLC increased its position in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after buying an additional 60 shares in the last quarter. Harbour Investments Inc. increased its holdings in Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Dover by 0.3% during the 2nd 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 in the last quarter. Finally, Rockland Trust Co. increased its holdings in Dover by 0.4% during the 2nd 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 in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. Citigroup restated a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays dropped their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Wells Fargo & Company decreased their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.67.

Dover Stock Performance

Dover stock opened at $166.44 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $172.60 and a 200-day moving average of $175.43. The firm has a market cap of $22.82 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

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

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is 12.55%.

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.