Patten Group Inc. Increases Stock Position in Dover Corporation $DOV

Patten Group Inc. grew its stake in shares of Dover Corporation (NYSE:DOV) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,154 shares of the industrial products company’s stock after buying an additional 516 shares during the period. Patten Group Inc.’s holdings in Dover were worth $1,128,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the 1st quarter valued at $31,000. Harbour Investments Inc. lifted its holdings in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Dover during the 2nd quarter valued at $33,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOV has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Citigroup restated a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Barclays reduced their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a report on Wednesday, October 8th. Eight 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 currently has a consensus rating of “Moderate Buy” and an average target price of $212.25.

Dover Stock Performance

NYSE:DOV opened at $173.34 on Wednesday. The stock has a market cap of $23.77 billion, a P/E ratio of 10.45, a PEG ratio of 1.35 and a beta of 1.26. The firm has a 50-day moving average of $172.38 and a two-hundred day moving average of $175.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last issued its 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 for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. On average, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal 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 paid a $0.52 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s dividend payout ratio (DPR) is currently 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.