Y Intercept Hong Kong Ltd Trims Position in Dover Corporation $DOV

Y Intercept Hong Kong Ltd lessened its position in shares of Dover Corporation (NYSE:DOV) by 33.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,600 shares of the industrial products company’s stock after selling 8,763 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Dover were worth $3,225,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in Dover during the first quarter valued at $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover during the first quarter valued at $31,000. Harbour Investments Inc. increased its position 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 acquiring an additional 60 shares during the last quarter. Truvestments Capital LLC increased its position 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 acquiring an additional 171 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. purchased a new stake in Dover during the second quarter valued at $33,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DOV shares. Wells Fargo & Company boosted their price target on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Oppenheimer cut their price target on Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Weiss Ratings lowered Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Finally, Morgan Stanley boosted their price target on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.55.

Dover Stock Performance

NYSE DOV opened at $180.45 on Thursday. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $172.18 and a 200-day moving average price of $176.45. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings data 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 during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. As a group, equities research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend 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 currently 12.79%.

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.