Aberdeen Group plc Boosts Stock Holdings in Dover Corporation $DOV

Key Points

• Aberdeen Group plc increased its stake in Dover Corporation by 148.4% during the first quarter, holding approximately 119,687 shares valued at $20.77 million.
• Dover Corporation recently announced a quarterly dividend of $0.52, maintaining the same level as the previous quarter, and representing an annualized yield of 1.2%.
• After a recent earnings report, Dover's consensus price target among analysts is $213.92, with a majority rating it as a "Moderate Buy."

Aberdeen Group plc lifted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 148.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,687 shares of the industrial products company's stock after purchasing an additional 71,496 shares during the period. Aberdeen Group plc owned about 0.09% of Dover worth $20,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its position in shares of Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after purchasing an additional 67 shares in the last quarter. Lido Advisors LLC increased its position in Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after buying an additional 69 shares in the last quarter. Colonial Trust Co SC raised its stake in Dover by 11.1% during the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after buying an additional 72 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares in the last quarter. Finally, First Affirmative Financial Network grew its stake in Dover by 4.8% in the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock valued at $322,000 after acquiring an additional 84 shares during the period. Institutional investors own 84.46% of the company's stock.

Dover Stock Performance

DOV traded down $1.1330 during trading on Wednesday, hitting $178.5770. 881,052 shares of the company traded hands, compared to its average volume of 1,140,014. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock's fifty day moving average is $182.19 and its 200 day moving average is $181.17. 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 firm has a market cap of $24.49 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26.

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 the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. The company's revenue for the quarter 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, equities analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird boosted their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

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.