Triton Financial Group Inc Buys Shares of 7,855 Dover Corporation $DOV

Key Points

• Triton Financial Group Inc acquired 7,855 shares of Dover Corporation, valued at approximately $1,439,000, in the second quarter.
• Dover recently declared a quarterly dividend of $0.52 per share, representing an annualized yield of 1.2% and a dividend payout ratio of 12.55%.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $212.25 per share.

Triton Financial Group Inc purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,855 shares of the industrial products company's stock, valued at approximately $1,439,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DOV. North Capital Inc. purchased a new stake in shares of Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the first quarter worth about $31,000. Harbour Investments Inc. grew its holdings in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock worth $32,000 after buying an additional 60 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after buying an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. purchased a new stake in shares of Dover during the second quarter worth about $33,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 1.5%

Shares of DOV stock opened at $169.00 on Tuesday. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. 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 Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm's 50 day moving average price is $172.47 and its two-hundred day moving average price is $175.53.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The firm 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%. On average, analysts anticipate 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. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover's dividend payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company lowered their target price on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, October 6th. Citigroup restated a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Oppenheimer lowered their target price on shares of Dover from $225.00 to $220.00 and set an "outperform" rating for the company in a report on Monday. Finally, Barclays lowered their target price on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and an average price target of $212.25.

Dover Company 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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