Pensionfund Sabic Cuts Position in Dover Corporation $DOV

Pensionfund Sabic cut its holdings in shares of Dover Corporation (NYSE:DOV) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,400 shares of the industrial products company’s stock after selling 900 shares during the quarter. Pensionfund Sabic’s holdings in Dover were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOV. Nuveen LLC purchased a new stake in Dover during the 1st quarter worth approximately $526,081,000. GAMMA Investing LLC increased its holdings in Dover by 35,832.0% during the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company’s stock worth $98,917,000 after purchasing an additional 561,487 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Dover by 350.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock worth $72,090,000 after purchasing an additional 319,319 shares during the last quarter. Woodline Partners LP increased its holdings in Dover by 352.9% during the 4th quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company’s stock worth $72,260,000 after purchasing an additional 300,124 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 2.8%

NYSE:DOV opened at $173.15 on Friday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a market capitalization of $23.74 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The business has a 50 day simple moving average of $181.34 and a 200 day simple moving average of $178.16.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities research analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 12.55%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Wells Fargo & Company lifted their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Barclays lifted their target price on Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their target price on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, Robert W. Baird lifted their target price on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.92.

Dover 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.