Alliancebernstein L.P. Has $41.49 Million Stake in Dover Corporation $DOV

Key Points

• Alliancebernstein L.P. reduced its stake in Dover Corporation by 16.8% in Q1, owning about 236,173 shares valued at approximately $41.5 million after selling 47,726 shares.
• Other institutional investors, including Amundi and Dark Forest Capital Management, increased their holdings in Dover, indicating a strong interest in the company's prospects.
• Dover's stock price increased to $178.10, with several analysts raising their price targets, reflecting a consensus rating of “Moderate Buy.”

Alliancebernstein L.P. cut its position in Dover Corporation (NYSE:DOV - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 236,173 shares of the industrial products company's stock after selling 47,726 shares during the period. Alliancebernstein L.P. owned about 0.17% of Dover worth $41,491,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DOV. North Capital Inc. acquired a new stake in shares of Dover during the first quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover during the first quarter worth $31,000. Truvestments Capital LLC raised 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 worth $33,000 after acquiring an additional 171 shares during the period. Costello Asset Management INC acquired a new stake in shares of Dover during the first quarter worth $35,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Dover during the fourth quarter worth $43,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV traded down $4.95 during midday trading on Friday, reaching $173.15. The stock had a trading volume of 1,133,052 shares, compared to its average volume of 817,281. The firm has a 50 day simple moving average of $181.34 and a 200-day simple moving average of $178.16. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The firm has a market cap of $23.74 billion, a PE ratio of 10.44, a P/E/G ratio of 1.42 and a beta of 1.27. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

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, beating analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. 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%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 12.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOV. Barclays raised their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Mizuho raised their target price 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. JPMorgan Chase & Co. raised their target price 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 raised their target price on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, Robert W. Baird raised their target price 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. Seven analysts have rated the stock with a Buy rating and five have assigned 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 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.