Balefire LLC Makes New $329,000 Investment in Dover Corporation $DOV

Key Points

• Balefire LLC purchased 1,795 shares of Dover Corporation, valued at approximately $329,000, during the second quarter, indicating institutional investor interest in the company.
• Barclays and JPMorgan Chase & Co. recently raised their price targets for Dover, forecasting a target range between $193.00 and $234.00, with overall consensus rating of "Moderate Buy."
• Dover announced a quarterly dividend of $0.52 per share, marking an annualized dividend yield of 1.2%, up from its previous payout.

Balefire LLC purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,795 shares of the industrial products company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOV. Czech National Bank grew its stake in shares of Dover by 6.3% in the 2nd quarter. Czech National Bank now owns 33,513 shares of the industrial products company's stock worth $6,141,000 after buying an additional 1,995 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Dover by 595.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 183,436 shares of the industrial products company's stock valued at $33,611,000 after buying an additional 157,050 shares during the period. Davis Investment Partners LLC bought a new position in shares of Dover during the 2nd quarter valued at $201,000. Parallel Advisors LLC raised its holdings in Dover by 19.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,926 shares of the industrial products company's stock worth $536,000 after purchasing an additional 486 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in Dover during the first quarter valued at about $1,130,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Down 0.9%

DOV stock traded down $1.54 during midday trading on Friday, hitting $171.26. The company's stock had a trading volume of 1,492,689 shares, compared to its average volume of 822,115. 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 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market capitalization of $23.48 billion, a P/E ratio of 10.33, a PEG ratio of 1.38 and a beta of 1.27. The firm has a 50-day simple moving average of $179.67 and a 200-day simple moving average of $177.54.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion during 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 revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change 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 currently 12.55%.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target 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 price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Mizuho lifted their price target 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 equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover presently 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.