American Century Companies Inc. Has $146.26 Million Stock Position in Dover Corporation $DOV

Key Points

• American Century Companies Inc. increased its stake in Dover Corporation by 9.4%, acquiring an additional 71,196 shares, bringing its total ownership to 832,542 shares valued at approximately $146.3 million.
• Dover reported a net margin of 29.29% and earnings of $2.44 per share for the last quarter, exceeding analyst expectations.
• The company announced a quarterly dividend increase to $0.52, marking a 1.2% yield, set to be paid on September 15th, 2023.

American Century Companies Inc. grew its holdings in Dover Corporation (NYSE:DOV - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 832,542 shares of the industrial products company's stock after acquiring an additional 71,196 shares during the quarter. American Century Companies Inc. owned 0.61% of Dover worth $146,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. North Capital Inc. acquired a new position in shares of Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover in the first quarter valued at $31,000. Costello Asset Management INC acquired a new position in shares of Dover in the first quarter valued at $35,000. Orion Capital Management LLC acquired a new position in shares of Dover in the fourth quarter valued at $43,000. Finally, SouthState Corp acquired a new position in shares of Dover in the first quarter valued at $43,000. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of NYSE:DOV traded down $0.8520 during midday trading on Wednesday, reaching $178.8580. The company's stock had a trading volume of 427,058 shares, compared to its average volume of 1,061,302. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a market capitalization of $24.53 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The business's fifty day simple moving average is $182.19 and its 200-day simple moving average is $181.18.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm'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. As a group, equities research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business 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 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 (DPR) is 12.42%.

Analysts Set New Price Targets

A number of research analysts recently commented on DOV shares. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Mizuho lifted their price objective on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. JPMorgan Chase & Co. lifted their price objective on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Dover has a consensus 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.