Caisse DE Depot ET Placement DU Quebec Has $24.88 Million Stock Holdings in Dover Corporation $DOV

Key Points

• Caisse DE Depot ET Placement DU Quebec has decreased its position in Dover Corporation by 7.7%, holding approximately $24.88 million in stock as of the latest reporting period.
• The company recently raised its quarterly dividend to $0.52 per share, reflecting an annualized dividend of $2.08 and a yield of 1.1%.
• Dover's stock has received positive analyst ratings, with an average target price of $213.92 and several firms issuing price upgrades.

Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,642 shares of the industrial products company's stock after selling 11,762 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.10% of Dover worth $24,884,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DOV. Legacy Financial Advisors Inc. raised its position in shares of Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock worth $726,000 after acquiring an additional 57 shares in the last quarter. Summit Financial LLC boosted its stake in Dover by 0.9% during the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock valued at $1,159,000 after purchasing an additional 60 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Dover by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after buying an additional 67 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after buying an additional 69 shares during the last quarter. Finally, Colonial Trust Co SC boosted its stake in shares of Dover by 11.1% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after buying an additional 72 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

DOV has been the topic of several research analyst reports. Mizuho upped their price objective on 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 stock an "overweight" rating in a report on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company increased their target price on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, Barclays raised their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Trading Up 0.9%

NYSE:DOV opened at $182.17 on Wednesday. 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 company has a market cap of $24.98 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a 50 day simple moving average of $182.43 and a two-hundred day simple moving average of $180.38.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Research analysts forecast 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 issued a dividend of $0.52 per share. 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. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Dover's payout ratio is currently 12.55%.

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.

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