Dover Corporation $DOV Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in Dover Corporation by 5.4%, now holding 62,692 shares worth approximately $11 million.
• Dover Corporation recently reported a quarterly earnings per share (EPS) of $2.44, exceeding analyst expectations of $2.39, and a revenue of $2.05 billion.
• The company declared a quarterly dividend of $0.52 per share, which reflects an annual yield of 1.2%, and represents an increase from the prior dividend amount.

Brandywine Global Investment Management LLC decreased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,692 shares of the industrial products company's stock after selling 3,592 shares during the period. Brandywine Global Investment Management LLC's holdings in Dover were worth $11,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. purchased a new stake in shares of Dover in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Dover during the 1st quarter worth approximately $31,000. Costello Asset Management INC purchased a new position in shares of Dover in the 1st quarter worth approximately $35,000. Orion Capital Management LLC bought a new position in shares of Dover in the fourth quarter valued at approximately $43,000. Finally, SouthState Corp bought a new stake in Dover during the first quarter worth $43,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of NYSE:DOV traded up $6.1030 during midday trading on Friday, reaching $183.5130. 367,872 shares of the company were exchanged, compared to its average volume of 1,058,128. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a market cap of $25.17 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The business's fifty day moving average is $182.16 and its two-hundred day moving average is $180.99. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The company 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%. Dover's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts predict 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. Stockholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 12.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup reissued a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays increased their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho raised their price target on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price target on Dover from $203.00 to $206.00 and gave the stock 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

About Dover

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.