Atria Wealth Solutions Inc. Sells 7,203 Shares of Dover Corporation $DOV

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Dover Corporation by 73.1% in Q2, selling 7,203 shares and holding 2,655 shares worth approximately $486,000 at quarter's end.
• Dover recently declared a quarterly dividend of $0.52 per share, with a current payout ratio of 12.55%, reflecting a commitment to returning value to shareholders.
• Analysts have a consensus rating of "Moderate Buy" for Dover Corporation, with an average target price of $212.67, indicating positive expectations for the company’s stock performance.

Atria Wealth Solutions Inc. lessened its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 73.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,655 shares of the industrial products company's stock after selling 7,203 shares during the period. Atria Wealth Solutions Inc.'s holdings in Dover were worth $486,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. North Capital Inc. bought a new stake in shares of Dover during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the first quarter worth approximately $31,000. Investment Research & Advisory Group Inc. bought a new stake in shares of Dover during the second quarter worth approximately $33,000. Truvestments Capital LLC boosted its holdings in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares during the period. Finally, Costello Asset Management INC bought a new stake in shares of Dover during the first quarter worth approximately $35,000. Institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.2%

Shares of NYSE:DOV opened at $166.44 on Monday. The company has a fifty day moving average of $172.60 and a 200-day moving average of $175.43. The company has a market capitalization of $22.82 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.33 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 announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $1.78 billion during the quarter. On average, equities analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company 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 represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover's payout ratio is currently 12.55%.

Analysts Set New Price Targets

DOV has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays dropped their price target on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company dropped their price target on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and an average target price of $212.67.

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.

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