AQR Capital Management LLC Sells 39,161 Shares of Dover Corporation $DOV

Key Points

• AQR Capital Management LLC has decreased its holdings in Dover Corporation by 33.4%, owning 77,938 shares valued at approximately $13.4 million after selling 39,161 shares.
• Dover Corporation reported earnings of $2.44 per share for the most recent quarter, surpassing expectations and exhibiting a 5.2% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.52 per share, reflecting a 1.2% yield, with a strong payout ratio of 12.55%.

AQR Capital Management LLC lessened its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 33.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,938 shares of the industrial products company's stock after selling 39,161 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of Dover worth $13,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Amundi grew its holdings in shares of Dover by 15.7% during the 1st quarter. Amundi now owns 750,486 shares of the industrial products company's stock worth $122,127,000 after purchasing an additional 101,961 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Dover by 34.7% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,958 shares of the industrial products company's stock worth $1,223,000 after purchasing an additional 1,792 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in shares of Dover by 145.9% during the 1st quarter. Dark Forest Capital Management LP now owns 42,581 shares of the industrial products company's stock worth $7,481,000 after purchasing an additional 25,266 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Dover by 7.0% during the 1st quarter. EP Wealth Advisors LLC now owns 27,947 shares of the industrial products company's stock worth $4,910,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in shares of Dover by 26.9% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 1,722 shares of the industrial products company's stock worth $303,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

DOV has been the subject of several analyst reports. Mizuho raised 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. JPMorgan Chase & Co. raised 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. Robert W. Baird raised their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their target price on Dover from $190.00 to $195.00 and gave the stock 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Price Performance

DOV traded down $0.92 during trading on Monday, hitting $172.06. The company's stock had a trading volume of 742,859 shares, compared to its average volume of 842,911. The firm's 50 day moving average price is $181.03 and its two-hundred day moving average price is $177.85. 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 Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping 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 return on equity of 18.19% and a net margin of 29.29%.The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's dividend payout ratio is presently 12.55%.

Dover Company 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.