Dover Corporation $DOV Shares Acquired by Acadian Asset Management LLC

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 boosted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 1,034.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,237 shares of the industrial products company's stock after purchasing an additional 31,219 shares during the period. Acadian Asset Management LLC's holdings in Dover were worth $6,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of Dover by 14.5% in the first quarter. Geneos Wealth Management Inc. now owns 24,321 shares of the industrial products company's stock valued at $4,273,000 after buying an additional 3,082 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Dover by 0.4% in the first quarter. IFM Investors Pty Ltd now owns 25,076 shares of the industrial products company's stock worth $4,405,000 after purchasing an additional 101 shares during the last quarter. Integrity Alliance LLC. purchased a new stake in Dover in the first quarter worth about $332,000. Ransom Advisory Ltd bought a new position in Dover in the first quarter worth approximately $35,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Dover by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company's stock valued at $172,759,000 after acquiring an additional 19,387 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of DOV stock traded down $0.92 during trading on Monday, reaching $172.06. 742,859 shares of the company's stock were exchanged, compared to its average volume of 842,911. The firm's fifty day moving average price is $181.03 and its 200-day moving average price is $177.85. The stock has a market capitalization of $23.59 billion, a PE ratio of 10.38, a PEG ratio of 1.38 and a beta of 1.27. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly 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 company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current 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 issued a dividend of $0.52 per share. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's dividend payout ratio (DPR) is currently 12.55%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Citigroup reissued a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. lifted 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. Royal Bank Of Canada boosted their target price on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Robert W. Baird upped their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, 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.