Caxton Associates LLP Purchases Shares of 7,577 Dover Corporation $DOV

Key Points

• Caxton Associates LLP acquired a new stake in Dover Corporation, purchasing 7,577 shares valued at approximately $1,331,000 in the first quarter.
• Dover reported earnings of $2.44 EPS for the last quarter, surpassing analysts' expectations of $2.39, with a revenue of $2.05 billion reflecting a 5.2% year-over-year increase.
• The company will pay a quarterly dividend of $0.52 on September 15, 2023, maintaining a low payout ratio of 12.55%.

Caxton Associates LLP acquired a new position in Dover Corporation (NYSE:DOV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,577 shares of the industrial products company's stock, valued at approximately $1,331,000.

Several other hedge funds also recently made changes to their positions in DOV. Nuveen LLC acquired a new position in shares of Dover in the 1st quarter worth approximately $526,081,000. GAMMA Investing LLC grew its stake in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock worth $98,917,000 after purchasing an additional 561,487 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock worth $72,090,000 after acquiring an additional 319,319 shares in the last quarter. Woodline Partners LP increased its position in shares of Dover by 352.9% in the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after acquiring an additional 300,124 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOV. Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Robert W. Baird boosted their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Mizuho lifted their target price 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. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of Dover stock traded down $4.95 on Friday, reaching $173.15. The stock had a trading volume of 1,133,052 shares, compared to its average volume of 817,281. The business's 50-day moving average price is $181.34 and its two-hundred day moving average price is $178.30. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a market cap of $23.74 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the company earned $2.36 earnings per share. Dover'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. On average, sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover's payout ratio is presently 12.55%.

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.