Rockland Trust Co. Boosts Stock Position in Dover Corporation $DOV

Rockland Trust Co. increased its stake in shares of Dover Corporation (NYSE:DOV) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,383 shares of the industrial products company’s stock after purchasing an additional 68 shares during the quarter. Rockland Trust Co.’s holdings in Dover were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. Brighton Jones LLC increased its position in Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Dover in the 4th quarter valued at about $323,000. Vident Advisory LLC grew its holdings in Dover by 10.8% in the 4th quarter. Vident Advisory LLC now owns 3,354 shares of the industrial products company’s stock valued at $630,000 after buying an additional 327 shares during the period. Waverly Advisors LLC purchased a new stake in Dover in the 4th quarter valued at about $215,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Dover in the 4th quarter valued at about $255,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DOV. Mizuho lifted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. JPMorgan Chase & Co. lifted their price target on Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price target on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have assigned 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 Stock Performance

NYSE DOV opened at $172.77 on Friday. The firm has a market capitalization of $23.69 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.37 and a beta of 1.27. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. 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’s 50-day simple moving average is $180.02 and its 200-day simple moving average is $177.63.

Dover (NYSE:DOV) last released its quarterly earnings data 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 business had revenue of $2.05 billion for 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 company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover’s dividend payout ratio is presently 12.55%.

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.