Kovack Advisors Inc. Boosts Stock Position in Dover Corporation $DOV

Kovack Advisors Inc. boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 27.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,657 shares of the industrial products company’s stock after purchasing an additional 360 shares during the quarter. Kovack Advisors Inc.’s holdings in Dover were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Financial Advisors Inc. increased its holdings in Dover by 1.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 57 shares during the last quarter. Summit Financial LLC increased its holdings in shares of 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 acquiring an additional 60 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of Dover by 0.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $1,266,000 after acquiring an additional 60 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Dover by 0.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock valued at $3,971,000 after acquiring an additional 67 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of DOV opened at $181.80 on Monday. The company has a market cap of $24.93 billion, a P/E ratio of 11.18, a PEG ratio of 1.40 and a beta of 1.26. The stock has a fifty day moving average price of $172.22 and a 200 day moving average price of $176.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. 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 data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. On average, research analysts forecast 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. Shareholders 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 yield of 1.1%. Dover’s payout ratio is presently 12.79%.

Analyst Ratings Changes

DOV has been the subject of a number of research analyst reports. Citigroup reiterated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings downgraded Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Wells Fargo & Company upped their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.55.

Dover Company 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.