Arista Wealth Management LLC Acquires New Holdings in Dover Corporation $DOV

Key Points

• Arista Wealth Management LLC acquired a new stake in Dover Corporation, purchasing 1,834 shares valued at approximately $336,000.
• Dover Corporation recently declared a quarterly dividend of $0.52 per share, maintaining a yield of 1.2%, with an annualized dividend of $2.08.
• Analysts have given Dover a consensus rating of "Moderate Buy" with an average target price of $212.67.

Arista Wealth Management LLC acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,834 shares of the industrial products company's stock, valued at approximately $336,000.

Several other institutional investors also recently added to or reduced their stakes in the business. 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 worth $726,000 after buying an additional 57 shares during the period. 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 worth $1,159,000 after buying an additional 60 shares during the period. Harbour Investments Inc. increased its position in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock worth $32,000 after buying an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in 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 worth $3,971,000 after buying an additional 67 shares during the period. Finally, Rockland Trust Co. increased its position in Dover by 0.4% in the 2nd quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company's stock worth $2,819,000 after buying an additional 68 shares during the period. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several recent analyst reports. Citigroup reaffirmed a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company decreased their price objective on Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, October 6th. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Dover in a report on Wednesday, October 8th. Finally, Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $212.67.

Dover Price Performance

Dover stock opened at $166.44 on Friday. The business's fifty day moving average is $172.60 and its two-hundred day moving average is $175.37. The firm has a market cap of $22.82 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.32 and a beta of 1.26. 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 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV - Get Free Report) 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 business had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. Equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio is currently 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.

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