Kanawha Capital Management LLC Sells 700 Shares of Dover Corporation $DOV

by · The Cerbat Gem

Kanawha Capital Management LLC cut its stake in shares of Dover Corporation (NYSE:DOV – Free Report) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the industrial products company’s stock after selling 700 shares during the period. Kanawha Capital Management LLC’s holdings in Dover were worth $1,612,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DOV. Legacy Financial Advisors Inc. increased its holdings in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 57 shares during the last quarter. Summit Financial LLC boosted its position in shares of Dover by 0.9% during the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 60 shares during the last quarter. Harbour Investments Inc. boosted its stake in Dover by 51.7% in 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. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Dover by 0.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock worth $3,971,000 after buying an additional 67 shares in the last quarter. Finally, Rockland Trust Co. boosted its stake in Dover by 0.4% in the second quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company’s stock worth $2,819,000 after buying an additional 68 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Shares of NYSE:DOV opened at $166.44 on Friday. The firm’s 50 day moving average is $172.60 and its two-hundred day moving average is $175.37. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a market capitalization of $22.82 billion, a P/E ratio of 10.04, a PEG ratio of 1.32 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV – Get Free Report) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $1.78 billion for the quarter. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business 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 is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is 12.55%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Citigroup reaffirmed a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays cut their target price 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. Finally, JPMorgan Chase & Co. increased their target price on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.67.

View Our Latest Analysis on DOV

Dover Company Profile

(Free Report)

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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