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Castle Rock Wealth Management LLC Invests $1.97 Million in Dover Corporation $DOV

Dover logo with Industrials background

Key Points

  • Castle Rock Wealth Management LLC invested approximately $1.97 million in Dover Corporation by acquiring 10,426 shares during the second quarter.
  • Dover Corporation recently reported a quarterly EPS of $2.44, exceeding analyst estimates and showing a year-over-year revenue growth of 5.2%.
  • The company has increased its quarterly dividend to $0.52 per share, representing a yield of 1.3% and a payout ratio of 12.55%.
  • MarketBeat previews the top five stocks to own by November 1st.

Castle Rock Wealth Management LLC acquired a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,426 shares of the industrial products company's stock, valued at approximately $1,966,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Matisse Capital acquired a new position in shares of Dover during the 2nd quarter worth $424,000. Shell Asset Management Co. grew its stake in Dover by 116.9% in the 2nd quarter. Shell Asset Management Co. now owns 7,397 shares of the industrial products company's stock valued at $1,355,000 after acquiring an additional 3,987 shares during the last quarter. Cullinan Associates Inc. acquired a new stake in Dover in the 2nd quarter valued at about $861,000. Valeo Financial Advisors LLC boosted its stake in shares of Dover by 8.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the industrial products company's stock worth $284,000 after purchasing an additional 123 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Dover by 4.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 5,302 shares of the industrial products company's stock worth $971,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Down 1.1%

DOV stock opened at $164.75 on Wednesday. The company has a market capitalization of $22.59 billion, a P/E ratio of 9.94, a PEG ratio of 1.33 and a beta of 1.26. The firm has a 50 day simple moving average of $174.71 and a 200-day simple moving average of $176.25. 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 twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate 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% 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. On average, equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.52 per share. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. Dover's dividend payout ratio (DPR) is presently 12.55%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DOV shares. Royal Bank Of Canada increased their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a report on Saturday, September 27th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company cut their price target on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Citigroup restated a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $212.42.

Read Our Latest Stock Analysis on DOV

Dover Profile

(Free Report)

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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