Dover Corporation $DOV Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP reduced its stake in Dover Corporation by 77.9% in Q1, holding only 1,163 shares worth $204,000 after selling 4,096 shares during the quarter.
• Dover Corporation reported $2.44 EPS for the last quarter, surpassing analysts' expectations of $2.39, and marked a 5.2% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.52 per share, representing an annual yield of 1.2%, which is an increase from its previous dividend payout.

Aigen Investment Management LP lessened its stake in Dover Corporation (NYSE:DOV - Free Report) by 77.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,163 shares of the industrial products company's stock after selling 4,096 shares during the period. Aigen Investment Management LP's holdings in Dover were worth $204,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock valued at $2,870,986,000 after acquiring an additional 106,679 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Dover by 31.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after purchasing an additional 524,092 shares during the period. Northern Trust Corp increased its position in Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after purchasing an additional 245,535 shares during the period. Invesco Ltd. increased its position in Dover by 7.9% during the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after purchasing an additional 93,483 shares during the period. Finally, Voya Investment Management LLC increased its position in Dover by 4.4% during the 4th quarter. Voya Investment Management LLC now owns 1,229,179 shares of the industrial products company's stock worth $230,477,000 after purchasing an additional 52,067 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Shares of NYSE:DOV traded down $1.4160 during trading on Thursday, hitting $177.3240. 841,925 shares of the stock were exchanged, compared to its average volume of 1,129,697. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $182.16 and a two-hundred day moving average price of $180.99. The company has a market cap of $24.32 billion, a PE ratio of 10.70, a P/E/G ratio of 1.42 and a beta of 1.26.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $2.36 EPS. Dover's revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. 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. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 12.42%.

Analyst Ratings Changes

DOV has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird boosted their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Citigroup reissued a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover 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.