Bahl & Gaynor Inc. Has $10.41 Million Holdings in Dover Corporation $DOV

Key Points

• Bahl & Gaynor Inc. reduced its holdings in Dover Corporation by 5.2%, selling 3,230 shares and owning 59,269 shares valued at $10.4 million.
• Dover Corporation reported earnings per share of $2.44 for the quarter, exceeding expectations of $2.39, with a year-over-year revenue increase of 5.2%.
• The company announced an increase in its quarterly dividend to $0.52 per share, with an annual yield of 1.1% and a dividend payout ratio of 12.55%.

Bahl & Gaynor Inc. decreased its stake in Dover Corporation (NYSE:DOV - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,269 shares of the industrial products company's stock after selling 3,230 shares during the period. Bahl & Gaynor Inc.'s holdings in Dover were worth $10,412,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DOV. Golden State Wealth Management LLC grew its holdings 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 purchasing an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Dover by 10.1% during the first 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 during the period. Farther Finance Advisors LLC grew its holdings in Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after purchasing an additional 187 shares during the period. Heartland Bank & Trust Co bought a new position in Dover during the first quarter worth about $739,000. Finally, Hsbc Holdings PLC grew its holdings in Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the period. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

DOV has been the subject of several research reports. Robert W. Baird raised their price objective on shares of 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 price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Citigroup restated 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. Wells Fargo & Company raised their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, 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 research report on Friday, July 25th. Seven research 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, Dover presently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Price Performance

NYSE:DOV traded down $1.08 during mid-day trading on Thursday, reaching $181.63. The stock had a trading volume of 570,250 shares, compared to its average volume of 1,055,176. The stock has a 50-day simple moving average of $182.58 and a two-hundred day simple moving average of $180.39. The stock has a market capitalization of $24.91 billion, a PE ratio of 10.95, a P/E/G ratio of 1.45 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. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover's payout ratio is 12.42%.

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.