6,359 Shares in Dover Corporation $DOV Bought by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 6,359 shares in Dover Corporation, amounting to roughly $1,130,000, as per its recent SEC filing.
• Dover Corporation announced a quarterly dividend of $0.52 per share, representing an annualized yield of 1.2% with a payout ratio of 12.55%.
• Investment analysts have shown a positive outlook on Dover, with several firms raising their price targets, the consensus being around $213.92, indicating a strong buy position.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,359 shares of the industrial products company's stock, valued at approximately $1,130,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after acquiring an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Dover by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock worth $2,227,000 after acquiring an additional 1,160 shares during the period. Farther Finance Advisors LLC lifted its holdings in Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after acquiring an additional 187 shares during the period. Heartland Bank & Trust Co bought a new stake in Dover during the first quarter worth $739,000. Finally, Hsbc Holdings PLC lifted 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 acquiring an additional 268,931 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Trading Down 0.9%

DOV traded down $1.62 during midday trading on Friday, reaching $171.18. 249,395 shares of the company's stock traded hands, compared to its average volume of 1,037,251. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.37 and a beta of 1.27. The firm has a fifty day moving average of $180.02 and a two-hundred day moving average of $177.63. 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 (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $2.36 EPS. The business's revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. 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. Dover's dividend payout ratio (DPR) is 12.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DOV. Royal Bank Of Canada upped their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Mizuho upped their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Wells Fargo & Company upped their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird upped their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. 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.com, Dover currently 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.