AdvisorNet Financial Inc Purchases 311 Shares of Dover Co. (NYSE:DOV)

AdvisorNet Financial Inc boosted its position in shares of Dover Co. (NYSE:DOVGet Rating) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,397 shares of the industrial products company’s stock after purchasing an additional 311 shares during the period. AdvisorNet Financial Inc’s holdings in Dover were worth $169,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DOV. FinTrust Capital Advisors LLC bought a new position in Dover during the 1st quarter valued at about $44,000. Fairfield Bush & CO. bought a new position in Dover during the 1st quarter valued at about $48,000. Standard Family Office LLC bought a new position in Dover during the 1st quarter valued at about $50,000. Hazlett Burt & Watson Inc. bought a new position in Dover during the 1st quarter valued at about $53,000. Finally, Jones Financial Companies Lllp grew its holdings in Dover by 41.1% during the 1st quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 101 shares during the last quarter. 83.96% of the stock is currently owned by institutional investors.

Dover Stock Performance

NYSE:DOV opened at $122.69 on Wednesday. The company’s 50-day moving average price is $129.83 and its 200-day moving average price is $135.40. The company has a current ratio of 1.41, a quick ratio of 0.87 and a debt-to-equity ratio of 0.67. The company has a market cap of $17.61 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.02 and a beta of 1.39. Dover Co. has a twelve month low of $116.66 and a twelve month high of $184.04.

Dover (NYSE:DOVGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The industrial products company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.07. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.18 billion. Dover had a net margin of 13.90% and a return on equity of 26.94%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.06 earnings per share. On average, sell-side analysts forecast that Dover Co. will post 8.5 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.505 dividend. This is an increase from Dover’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 30th. Dover’s dividend payout ratio (DPR) is currently 25.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DOV shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Barclays dropped their target price on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. Wells Fargo & Company upped their target price on shares of Dover to $135.00 in a research note on Friday, July 22nd. Finally, The Goldman Sachs Group decreased their target price on shares of Dover from $176.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.17.

About Dover

(Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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