Spire Wealth Management Has $216,000 Stock Position in Dover Corporation $DOV

Key Points

• Spire Wealth Management reduced its stake in Dover Corporation by 56% in Q2, holding 1,177 shares valued at $216,000 after selling 1,498 shares.
• Dover recently declared a quarterly dividend of $0.52 per share, up from its previous dividend, representing an annualized dividend yield of 1.2%.
• Several research analysts have given Dover a consensus rating of "Moderate Buy" with a current price target averaging $211.55.

Spire Wealth Management decreased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 56.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,177 shares of the industrial products company's stock after selling 1,498 shares during the quarter. Spire Wealth Management's holdings in Dover were worth $216,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DOV. Nuveen LLC acquired a new position in shares of Dover during the 1st quarter worth approximately $526,081,000. Hsbc Holdings PLC increased its position in shares of Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Strs Ohio acquired a new position in shares of Dover during the 1st quarter worth approximately $40,148,000. Allianz Asset Management GmbH increased its position in shares of Dover by 647.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 255,648 shares of the industrial products company's stock worth $46,842,000 after purchasing an additional 221,443 shares during the last quarter. Finally, Auto Owners Insurance Co increased its position in shares of Dover by 4,768.6% during the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company's stock worth $33,358,000 after purchasing an additional 185,977 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

DOV opened at $178.16 on Tuesday. The business has a fifty day simple moving average of $172.17 and a 200 day simple moving average of $176.92. The company has a market capitalization of $24.44 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV - Get Free Report) last released 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 during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Research analysts expect that Dover Corporation will post 9.45 EPS for the current 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 $0.52 dividend. The ex-dividend date was Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's dividend payout ratio (DPR) is 12.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DOV shares. Weiss Ratings lowered Dover from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 24th. Barclays increased their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, October 24th. Wells Fargo & Company increased their price target on Dover from $180.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday, October 24th. Royal Bank Of Canada increased their price target on Dover from $183.00 to $198.00 and gave the company a "sector perform" rating in a research note on Friday, October 24th. Finally, Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research note on Saturday, October 25th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.55.

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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