Scotia Capital Inc. Purchases 2,000 Shares of Dover Corporation (NYSE:DOV)

Key Points

• Scotia Capital Inc. increased its holdings in Dover Corporation by 9.5%, now owning 23,131 shares valued at approximately $4,064,000.
• Equities analysts have raised price targets for Dover, with Barclays setting a new target at $193.00 and Mizuho at $225.00, indicating a positive outlook for the stock.
• Dover reported a quarterly earnings per share of $2.44, surpassing analysts' estimates and reflecting a 5.2% year-over-year revenue increase.

Scotia Capital Inc. raised its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,131 shares of the industrial products company's stock after purchasing an additional 2,000 shares during the quarter. Scotia Capital Inc.'s holdings in Dover were worth $4,064,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ecofi Investissements SA raised its holdings in shares of Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after acquiring an additional 50 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after purchasing an additional 67 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after purchasing an additional 69 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Dover by 11.1% in the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 72 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in shares of Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Mizuho raised their price target on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada boosted their price target 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. Citigroup reiterated a "buy" rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Finally, Morgan Stanley initiated coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

NYSE:DOV opened at $176.09 on Tuesday. The company has a market capitalization of $24.15 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.39 and a beta of 1.26. The business has a fifty day simple moving average of $182.61 and a two-hundred day simple moving average of $182.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. 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 announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 EPS. On average, analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

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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