Dover Corporation $DOV Shares Purchased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in Dover Corporation by 186.6%, owning 5,107 shares worth approximately $936,000 as of the latest SEC filing.
• Dover's recent quarterly earnings showed an EPS of $1.55 and revenue of $1.78 billion, with a net margin of 29.29%.
• The company declared a quarterly dividend of $0.52, representing an annualized yield of 1.3% and a payout ratio of 12.55%.

Concurrent Investment Advisors LLC increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 186.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,107 shares of the industrial products company's stock after purchasing an additional 3,325 shares during the period. Concurrent Investment Advisors LLC's holdings in Dover were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of DOV. North Capital Inc. acquired a new stake in shares of Dover during the first quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new position in Dover in the 1st quarter worth $31,000. Truvestments Capital LLC lifted its position in Dover by 1,005.9% during the 1st 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. Investment Research & Advisory Group Inc. purchased a new stake in Dover during the 2nd quarter valued at about $33,000. Finally, Costello Asset Management INC acquired a new position in shares of Dover in the first quarter valued at about $35,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

NYSE:DOV opened at $166.23 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a 50 day moving average price of $172.74 and a 200-day moving average price of $175.43. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market cap of $22.80 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 1.30 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The company 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 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is currently 12.55%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Dover from $217.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday. Robert W. Baird lifted their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dover in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, Barclays decreased their target price 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. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and a consensus target price of $212.67.

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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