Dover Corporation $DOV Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in Dover Corporation (NYSE:DOV) by 30.1%, selling 4,174 shares and retaining 9,694 shares valued at approximately $1.7 million.
• Multiple analysts have increased their price targets for Dover, with Mizuho raising it from $215.00 to $225.00 and Robert W. Baird from $219.00 to $234.00, indicating an overall sentiment of a "Moderate Buy."
• Dover Corporation has announced a quarterly dividend of $0.52 per share, reflecting an increase from the previous payout, and has set its FY 2025 earnings guidance to between $9.350 and $9.550 EPS.

AlphaQuest LLC lessened its holdings in Dover Corporation (NYSE:DOV - Free Report) by 30.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,694 shares of the industrial products company's stock after selling 4,174 shares during the quarter. AlphaQuest LLC's holdings in Dover were worth $1,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Dover by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after acquiring an additional 106,679 shares in the last quarter. Nuveen LLC acquired a new position in shares of Dover in the 1st quarter valued at $526,081,000. Northern Trust Corp grew its position in shares of Dover by 16.6% in the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock valued at $323,896,000 after buying an additional 245,535 shares during the last quarter. Invesco Ltd. raised its stake 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 acquiring an additional 93,483 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Dover by 1.4% in the fourth quarter. ProShare Advisors LLC now owns 1,034,790 shares of the industrial products company's stock valued at $194,127,000 after acquiring an additional 14,202 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE DOV traded up $0.61 during midday trading on Wednesday, hitting $182.82. The company had a trading volume of 546,083 shares, compared to its average volume of 1,059,483. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The business has a 50-day simple moving average of $182.43 and a two-hundred day simple moving average of $180.38. 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 announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $2.36 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities research analysts anticipate 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. Stockholders of record on Friday, August 29th will be given a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio (DPR) is currently 12.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. Mizuho upped their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Wells Fargo & Company lifted 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. increased their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Citigroup reissued a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Barclays upped their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.