Acadian Asset Management LLC Raises Stock Position in Dover Corporation $DOV

Key Points

• Acadian Asset Management LLC significantly increased its stake in Dover Corporation by 1,034.4%, owning 34,237 shares valued at approximately $6.01 million.
• Multiple analysts have raised their price targets for Dover Corporation, with Royal Bank of Canada setting a new target at $206.00 and Robert W. Baird at $234.00, indicating a positive outlook.
• Dover Corporation announced a quarterly dividend increase to $0.52 per share, reflecting its commitment to returning value to shareholders, with an annualized yield of 1.2%.

Acadian Asset Management LLC grew its position in Dover Corporation (NYSE:DOV - Free Report) by 1,034.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,237 shares of the industrial products company's stock after purchasing an additional 31,219 shares during the quarter. Acadian Asset Management LLC's holdings in Dover were worth $6,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. North Capital Inc. acquired a new position in Dover during the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the first quarter worth about $31,000. Truvestments Capital LLC increased its holdings in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of Dover in the 1st quarter valued at approximately $35,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Dover in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Citigroup reaffirmed a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Mizuho increased their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded up $1.32 during trading on Thursday, hitting $172.77. 831,383 shares of the stock traded hands, compared to its average volume of 822,640. 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 company has a market cap of $23.69 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.37 and a beta of 1.27. The company has a fifty day moving average price of $180.02 and a two-hundred day moving average price of $177.63. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.36 EPS. 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 year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is presently 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.