Twin Tree Management LP Purchases New Stake in Dover Corporation $DOV

Key Points

• Twin Tree Management LP has acquired a new position in Dover Corporation, purchasing 39,778 shares valued at approximately $7.29 million in the second quarter.
• Following recent analyst updates, Dover's price target was adjusted by various firms, with JPMorgan Chase raising it to $220.00 and Wells Fargo lowering it to $180.00, indicating varied outlooks on the stock's performance.
• Dover Corporation announced a quarterly dividend of $0.52 per share, representing an annualized yield of 1.3% and reflecting a payout ratio of 12.55%.

Twin Tree Management LP acquired a new position in Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,778 shares of the industrial products company's stock, valued at approximately $7,289,000.

Other hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the first quarter valued at $31,000. Harbour Investments Inc. boosted its stake in Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock valued at $32,000 after buying an additional 60 shares in the last quarter. Truvestments Capital LLC boosted its stake in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $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 valued at $33,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on Dover from $217.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday. Barclays dropped their price objective on Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, October 6th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $212.67.

Dover Stock Performance

DOV stock opened at $162.58 on Thursday. The business's fifty day moving average is $172.89 and its 200-day moving average is $175.50. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $22.29 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company 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%. Equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is 12.55%.

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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