Dover Corporation $DOV Shares Acquired by Diligent Investors LLC

Diligent Investors LLC raised its stake in Dover Corporation (NYSE:DOV) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,232 shares of the industrial products company’s stock after purchasing an additional 101 shares during the quarter. Diligent Investors LLC’s holdings in Dover were worth $409,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nuveen LLC purchased a new position in Dover during the 1st quarter worth $526,081,000. Assenagon Asset Management S.A. increased its stake in shares of Dover by 350.8% during the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock worth $72,090,000 after acquiring an additional 319,319 shares during the period. Hsbc Holdings PLC raised its holdings in Dover by 77.9% during the first 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 in the last quarter. Strs Ohio acquired a new stake in Dover in the first quarter valued at about $40,148,000. Finally, Auto Owners Insurance Co boosted its holdings in Dover by 4,768.6% in the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock valued at $33,358,000 after purchasing an additional 185,977 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.1%

Shares of Dover stock opened at $166.54 on Friday. The business has a 50 day moving average price of $175.46 and a 200 day moving average price of $176.46. The company has a market capitalization of $22.84 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

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

Dover Increases Dividend

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

Wall Street Analyst Weigh In

DOV has been the subject of several recent analyst reports. Royal Bank Of Canada raised 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. Barclays reduced their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Robert W. Baird increased their price target on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $213.67.

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.