Kingstone Capital Partners Texas LLC Makes New $6.37 Million Investment in Dover Corporation $DOV

Key Points

• Kingstone Capital Partners Texas LLC acquired 33,600 shares of Dover Corporation, valued at approximately $6.37 million, marking a significant investment in the industrial products company.
• Several institutional investors increased their stakes in Dover during the fourth quarter, with 84.46% of the stock now held by these entities.
• Research analysts have upgraded Dover's target price, with a consensus target now set at $213.92 and a majority rating the stock as a "Moderate Buy."

Kingstone Capital Partners Texas LLC acquired a new position in shares of Dover Corporation (NYSE:DOV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,600 shares of the industrial products company's stock, valued at approximately $6,370,000.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its stake in shares of Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock valued at $726,000 after acquiring an additional 57 shares in the last quarter. Summit Financial LLC lifted its position in shares of Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock worth $1,159,000 after purchasing an additional 60 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Dover by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 67 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Dover by 0.3% during the 2nd 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 acquiring an additional 67 shares during the last quarter. Finally, Rockland Trust Co. grew its holdings in shares of Dover by 0.4% during the 2nd quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company's stock worth $2,819,000 after purchasing an additional 68 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOV has been the subject of several recent research reports. 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 report on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. 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. Finally, Robert W. Baird increased their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Price Performance

NYSE:DOV traded down $1.54 during mid-day trading on Friday, reaching $171.26. The stock had a trading volume of 1,492,689 shares, compared to its average volume of 843,781. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock has a market capitalization of $23.48 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.36 and a beta of 1.27. The firm has a 50 day moving average price of $179.67 and a two-hundred day moving average price of $177.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results 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. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $2.36 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend 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%.

Dover Company 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.