Harbour Investments Inc. Increases Holdings in Dover Corporation $DOV

Harbour Investments Inc. increased its position in Dover Corporation (NYSE:DOV) by 51.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 176 shares of the industrial products company’s stock after acquiring an additional 60 shares during the quarter. Harbour Investments Inc.’s holdings in Dover were worth $32,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after acquiring an additional 106,679 shares during the last quarter. Nuveen LLC purchased a new stake in Dover in the 1st quarter worth about $526,081,000. Invesco Ltd. increased its holdings in Dover by 7.9% in the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock worth $223,586,000 after acquiring an additional 93,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Dover by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock worth $172,759,000 after acquiring an additional 19,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Dover by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock worth $147,680,000 after acquiring an additional 12,518 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOV. Royal Bank Of Canada lifted their price objective on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday. Barclays lifted their target price on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup reaffirmed a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Robert W. Baird set a $235.00 target price on Dover in a report on Friday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Dover Stock Performance

Shares of DOV opened at $177.64 on Friday. The company has a market cap of $24.36 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. 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 stock has a 50-day moving average price of $172.13 and a 200-day moving average price of $175.85. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.91% and a net margin of 28.37%. As a group, equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal 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 dividend of $0.52 per share. 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 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.