Dover Corporation $DOV Shares Sold by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC reduced its holdings in Dover Corporation by 11.2%, selling 18,708 shares, and now owns 147,667 shares valued at approximately $25.94 million.
• Analysts have raised their price targets for Dover, with Robert W. Baird increasing their target from $219 to $234 and maintaining an "outperform" rating.
• Dover recently announced a quarterly dividend increase to $0.52 per share, marking a consistent annual dividend of $2.08 with a yield of 1.2%.

Ceredex Value Advisors LLC trimmed its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,667 shares of the industrial products company's stock after selling 18,708 shares during the quarter. Ceredex Value Advisors LLC owned 0.11% of Dover worth $25,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. Quantitative Investment Management LLC purchased a new stake in Dover during the 1st quarter worth approximately $230,000. Smartleaf Asset Management LLC lifted its position in Dover by 19.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,503 shares of the industrial products company's stock worth $263,000 after acquiring an additional 241 shares during the period. Haverford Trust Co increased its holdings in shares of Dover by 7.7% in the first quarter. Haverford Trust Co now owns 5,009 shares of the industrial products company's stock valued at $880,000 after purchasing an additional 357 shares during the period. Kestra Advisory Services LLC increased its holdings in Dover by 0.6% in the 1st quarter. Kestra Advisory Services LLC now owns 55,437 shares of the industrial products company's stock worth $9,739,000 after buying an additional 350 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Dover by 0.4% during the 1st quarter. 1832 Asset Management L.P. now owns 28,588 shares of the industrial products company's stock worth $5,022,000 after buying an additional 108 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE:DOV traded down $1.08 during trading hours on Thursday, reaching $181.63. 570,265 shares of the company were exchanged, compared to its average volume of 979,525. 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 firm has a market cap of $24.91 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock's 50-day moving average is $182.70 and its 200-day moving average is $180.24.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $2.36 EPS. The firm'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, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. Dover's payout ratio is 12.42%.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. Royal Bank Of Canada raised their target price 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. Wells Fargo & Company increased their price target on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Robert W. Baird raised their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Seven investment 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, Dover presently has an average rating of "Moderate Buy" and a consensus price target 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.