Assenagon Asset Management S.A. Sells 129,334 Shares of Dover Corporation $DOV

Key Points

• Assenagon Asset Management S.A. has reduced its holdings in Dover Corporation by 31.5%, owning 281,016 shares worth approximately $51.49 million as of its recent SEC filing.
• Dover Corporation reported an earnings per share (EPS) of $2.44 for the last quarter, exceeding estimates and experiencing a 5.2% increase in revenue year-over-year.
• Following recent analyst ratings, the consensus target price for Dover has been set at $213.92, with the majority of analysts rating it as a "Moderate Buy."

Assenagon Asset Management S.A. decreased its position in Dover Corporation (NYSE:DOV - Free Report) by 31.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 281,016 shares of the industrial products company's stock after selling 129,334 shares during the period. Assenagon Asset Management S.A. owned about 0.20% of Dover worth $51,491,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after acquiring an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Dover by 10.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock worth $2,227,000 after purchasing an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after buying an additional 187 shares in the last quarter. Heartland Bank & Trust Co bought a new position in shares of Dover during the 1st quarter worth approximately $739,000. Finally, Hsbc Holdings PLC raised its position in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after acquiring an additional 268,931 shares during the period. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on DOV. Citigroup reissued a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Wells Fargo & Company increased their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Mizuho increased their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Seven 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, Dover presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

DOV stock traded down $1.47 during trading on Tuesday, reaching $168.77. 496,358 shares of the company's stock were exchanged, compared to its average volume of 1,040,061. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The firm has a market cap of $23.14 billion, a PE ratio of 10.18, a P/E/G ratio of 1.36 and a beta of 1.27. The company's fifty day moving average price is $179.30 and its 200-day moving average price is $177.29. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The company's revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 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.