Beck Mack & Oliver LLC Sells 36,070 Shares of Dover Corporation $DOV

Key Points

• Beck Mack & Oliver LLC reduced its holdings in Dover Corporation by 35.0% in the first quarter, selling 36,070 shares and bringing their total ownership to 66,848 shares valued at approximately $11.74 million.
• Several hedge funds made new investments in Dover Corporation, which is now owned 84.46% by institutional investors.
• Dover reported a 12-month revenue increase of 5.2% and provided guidance for FY 2025 with estimated earnings per share of $9.350-$9.550.

Beck Mack & Oliver LLC lowered its holdings in Dover Corporation (NYSE:DOV - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,848 shares of the industrial products company's stock after selling 36,070 shares during the period. Beck Mack & Oliver LLC's holdings in Dover were worth $11,744,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. purchased a new position in Dover during the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the 1st quarter valued at $31,000. Truvestments Capital LLC boosted its stake in shares of Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 171 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Dover in the 1st quarter valued at $35,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Dover in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research reports. Mizuho upped 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. Wells Fargo & Company upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Barclays upped their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Robert W. Baird upped their price target on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Dover currently has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Down 1.5%

Shares of NYSE DOV opened at $178.89 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.35 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 firm has a market capitalization of $24.53 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The firm has a fifty day simple moving average of $182.78 and a two-hundred day simple moving average of $179.93.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $2.36 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio (DPR) is currently 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.

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