IFP Advisors Inc Has $1.32 Million Stock Position in Dover Corporation (NYSE:DOV)

IFP Advisors Inc lifted its holdings in Dover Corporation (NYSE:DOV - Free Report) by 243.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,526 shares of the industrial products company's stock after acquiring an additional 5,332 shares during the quarter. IFP Advisors Inc's holdings in Dover were worth $1,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DOV. North Capital Inc. bought a new stake in shares of Dover in the 1st quarter valued at $29,000. Orion Capital Management LLC acquired a new stake in Dover in the 4th quarter valued at about $43,000. Ameriflex Group Inc. acquired a new stake in Dover in the 4th quarter valued at about $69,000. Quarry LP lifted its stake in Dover by 257.0% in the 4th quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 293 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Dover by 24.1% during the first quarter. SBI Securities Co. Ltd. now owns 494 shares of the industrial products company's stock worth $87,000 after acquiring an additional 96 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DOV shares. Citigroup reissued a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Morgan Stanley started coverage on shares of Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Finally, Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and a consensus price target of $208.58.

Dover Price Performance

Dover stock opened at $189.68 on Wednesday. The company's fifty day moving average price is $182.30 and its 200 day moving average price is $183.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The stock has a market capitalization of $26.00 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.58 and a beta of 1.26. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the firm earned $1.95 EPS. Dover's revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio (DPR) is 12.41%.

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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