Boothbay Fund Management LLC Invests $14.91 Million in Dover Corporation $DOV

Key Points

• Boothbay Fund Management LLC acquired a new stake in Dover Corporation, purchasing 84,887 shares valued at approximately $14.9 million during the first quarter.
• Dover's stock received several price target increases from analysts, with targets raised by Mizuho to $225 and Citigroup to $226, indicating a strong market outlook.
• The company reported a quarterly earnings per share (EPS) of $2.44, exceeding estimates and showing a year-over-year revenue increase of 5.2%.

Boothbay Fund Management LLC bought a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 84,887 shares of the industrial products company's stock, valued at approximately $14,913,000. Dover accounts for approximately 0.4% of Boothbay Fund Management LLC's holdings, making the stock its 25th largest position. Boothbay Fund Management LLC owned approximately 0.06% of Dover as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Dover in the first quarter worth approximately $526,081,000. GAMMA Investing LLC raised its stake in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock worth $98,917,000 after buying an additional 561,487 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after buying an additional 319,319 shares during the period. Woodline Partners LP boosted its stake in Dover by 352.9% during the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock valued at $72,260,000 after buying an additional 300,124 shares in the last quarter. Finally, Hsbc Holdings PLC grew 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. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on DOV. Barclays upped their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho increased their price objective on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, 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 report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Up 0.1%

Shares of Dover stock traded up $0.11 during midday trading on Monday, hitting $177.86. The company's stock had a trading volume of 1,135,974 shares, compared to its average volume of 1,049,396. The firm has a market capitalization of $24.39 billion, a P/E ratio of 10.73, a PEG ratio of 1.42 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 quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $182.39 and a 200-day simple moving average of $178.82.

Dover (NYSE:DOV - Get Free Report) last announced 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. 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 period last year, the company posted $2.36 EPS. The business's quarterly 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. As a group, sell-side 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 will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.52 per share. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is 12.55%.

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.