Kornitzer Capital Management Inc. KS Has $1.27 Million Stock Position in Dover Corporation $DOV

Kornitzer Capital Management Inc. KS lifted its position in shares of Dover Corporation (NYSE:DOV) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,911 shares of the industrial products company’s stock after acquiring an additional 60 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Dover were worth $1,266,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DOV. Golden State Wealth Management LLC lifted its position in Dover by 707.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Dover by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock worth $2,227,000 after buying an additional 1,160 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Dover by 9.3% in the second quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after buying an additional 10,581 shares during the period. Hsbc Holdings PLC boosted its stake in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares during the last quarter. Finally, 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 worth $563,000 after acquiring an additional 1,638 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Oppenheimer cut their target price on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Wells Fargo & Company boosted their target price on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup reissued a “buy” rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $212.00.

Dover Trading Down 2.0%

NYSE:DOV opened at $177.64 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The business’s 50-day simple moving average is $172.13 and its 200-day simple moving average is $176.10. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a market capitalization of $24.36 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. Sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.52. 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.