Caxton Associates LLP Acquires New Position in Dover Corporation $DOV

Caxton Associates LLP acquired a new stake in Dover Corporation (NYSE:DOV) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,577 shares of the industrial products company’s stock, valued at approximately $1,331,000.

Several other hedge funds also recently bought and sold shares of DOV. North Capital Inc. purchased a new position in Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new position in Dover during the first quarter worth about $31,000. 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 worth $33,000 after buying an additional 171 shares during the period. Costello Asset Management INC purchased a new position in Dover during the first quarter worth about $35,000. Finally, Orion Capital Management LLC purchased a new position in Dover during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DOV shares. JPMorgan Chase & Co. increased their target price on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Citigroup reaffirmed a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays raised their price objective on shares of Dover from $185.00 to $193.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. Seven 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, the stock has an average rating of “Moderate Buy” and an average price target of $213.92.

Dover Stock Down 1.8%

Shares of NYSE:DOV opened at $174.79 on Wednesday. The firm’s 50 day moving average price is $182.05 and its 200 day moving average price is $178.63. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a 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 is Friday, August 29th. Dover’s dividend payout ratio is 12.55%.

About Dover

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.