Strategic Blueprint LLC Increases Stake in Dover Corporation $DOV

Key Points

• Strategic Blueprint LLC increased its stake in Dover Corporation by 90.1% during the 2nd quarter, owning 3,698 shares valued at approximately $678,000.
• Several hedge funds, including Brighton Jones LLC and GAMMA Investing LLC, have also significantly increased their positions in Dover, with total institutional ownership now at 84.46%.
• Recent analyst reports have led to upgrades in Dover's stock rating, with a consensus rating of "Moderate Buy" and an average target price of $212.00.

Strategic Blueprint LLC grew its stake in Dover Corporation (NYSE:DOV - Free Report) by 90.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,698 shares of the industrial products company's stock after buying an additional 1,753 shares during the quarter. Strategic Blueprint LLC's holdings in Dover were worth $678,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. Brighton Jones LLC boosted its stake in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock valued at $552,000 after buying an additional 1,128 shares during the period. GAMMA Investing LLC boosted its stake in shares of Dover by 104.5% in the 1st quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock valued at $563,000 after buying an additional 1,638 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Dover by 4.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,231 shares of the industrial products company's stock valued at $2,852,000 after buying an additional 695 shares during the period. Spire Wealth Management lifted its stake in Dover by 8.1% during the first quarter. Spire Wealth Management now owns 2,675 shares of the industrial products company's stock worth $470,000 after purchasing an additional 200 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Dover by 4.9% during the first quarter. Sequoia Financial Advisors LLC now owns 2,982 shares of the industrial products company's stock worth $524,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

DOV has been the subject of several recent analyst reports. Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada boosted their target price on Dover from $183.00 to $198.00 and gave the stock a "sector perform" rating in a research note on Friday. Weiss Ratings cut Dover from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Dover from $217.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Finally, Robert W. Baird set a $235.00 target price on Dover in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $212.00.

Dover Trading Down 2.0%

DOV opened at $177.64 on Friday. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The business's 50 day moving average is $172.13 and its two-hundred day moving average is $176.03. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

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 return on equity of 17.91% and a net margin of 28.37%. On average, research analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend 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 is presently 12.55%.

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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