Adage Capital Partners GP L.L.C. Decreases Stock Position in Dover Corporation $DOV

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in Dover Corporation by 1.6%, selling 34,369 shares, and now owns approximately 2.15 million shares, making Dover its 21st largest holding.
• Several analysts have raised their price targets for Dover, with Mizuho increasing their target from $215 to $225, contributing to a consensus rating of "Moderate Buy" with an average price target of $213.92.
• Dover recently declared a quarterly dividend of $0.52 per share, which represents an annualized yield of **1.2%**, and it is an increase from the previous quarter's dividend.

Adage Capital Partners GP L.L.C. decreased its stake in Dover Corporation (NYSE:DOV - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,148,626 shares of the industrial products company's stock after selling 34,369 shares during the period. Dover accounts for about 0.7% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 21st biggest holding. Adage Capital Partners GP L.L.C. owned 1.57% of Dover worth $377,471,000 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. Nuveen LLC acquired a new stake in Dover in the first quarter valued at approximately $526,081,000. GAMMA Investing LLC grew its stake in Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after acquiring an additional 561,487 shares during the period. Assenagon Asset Management S.A. grew its stake in 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 acquiring an additional 319,319 shares during the period. Woodline Partners LP grew its stake in Dover by 352.9% in the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock valued at $72,260,000 after acquiring an additional 300,124 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $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 Stock Performance

Dover stock traded down $0.62 during mid-day trading on Friday, reaching $177.74. 1,047,509 shares of the company's stock were exchanged, compared to its average volume of 810,963. The business's fifty day simple moving average is $182.39 and its 200 day simple moving average is $179.19. The firm has a market capitalization of $24.37 billion, a PE ratio of 10.72, a P/E/G ratio of 1.42 and a beta of 1.27. Dover Corporation has a one year low of $143.04 and a one 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.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm 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 represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is 12.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird raised their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. 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. Barclays raised their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.