BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 39,882 Shares of Dover Corporation $DOV

Key Points

• BNP Paribas Asset Management reduced its stake in Dover Corporation by 26.2% in the first quarter, now holding a total of $19.75 million in shares.
• Dover announced a quarterly dividend increase to $0.52 per share, with a dividend yield of 1.2% for investors of record on August 29th.
• The company's stock recently experienced a 1.6% decline and reported earnings of $2.44 per share, exceeding expectations and reflecting a revenue increase of 5.2% year-over-year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,408 shares of the industrial products company's stock after selling 39,882 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.08% of Dover worth $19,745,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of Dover during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the 1st quarter worth about $31,000. Costello Asset Management INC acquired a new position in shares of Dover during the 1st quarter worth about $35,000. Orion Capital Management LLC acquired a new position in shares of Dover during the 4th quarter worth about $43,000. Finally, SouthState Corp acquired a new position in shares of Dover during the 1st quarter worth about $43,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DOV shares. Robert W. Baird boosted 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. 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 research note on Friday, July 25th. Mizuho upped 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. JPMorgan Chase & Co. upped their price target 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. Finally, Royal Bank Of Canada upped 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. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded down $1.1330 on Wednesday, reaching $178.5770. 881,052 shares of the company's stock were exchanged, compared to its average volume of 1,140,014. The company has a fifty day moving average of $182.19 and a 200-day moving average of $181.17. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a market capitalization of $24.49 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.43 and a beta of 1.26. 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 (NYSE:DOV - Get Free Report) last announced 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $2.36 EPS. The business'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 predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is currently 12.42%.

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.