Dover Corporation $DOV Shares Bought by Dark Forest Capital Management LP

Key Points

• Dark Forest Capital Management LP increased its holdings in Dover Corporation by 145.9%, owning 42,581 shares valued at approximately $7.48 million.
• Dover recently beat analysts' earnings expectations with an EPS of $2.44 for the latest quarter, and its revenue rose by 5.2% from the previous year.
• The company declared a quarterly dividend of $0.52 per share, maintaining a dividend payout ratio of 12.55% and an annualized yield of 1.2%.

Dark Forest Capital Management LP boosted its position in Dover Corporation (NYSE:DOV - Free Report) by 145.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,581 shares of the industrial products company's stock after acquiring an additional 25,266 shares during the quarter. Dover accounts for 0.3% of Dark Forest Capital Management LP's investment portfolio, making the stock its 19th biggest position. Dark Forest Capital Management LP's holdings in Dover were worth $7,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. Nuveen LLC acquired a new position in Dover in the first quarter valued at $526,081,000. GAMMA Investing LLC lifted its stake in shares of Dover by 35,832.0% during the first 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Dover by 350.8% during 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 purchasing an additional 319,319 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Dover by 352.9% during the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after purchasing an additional 300,124 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Down 0.3%

Dover stock traded down $0.62 during midday trading on Friday, hitting $177.74. The stock had a trading volume of 1,047,509 shares, compared to its average volume of 810,963. 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 $24.37 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.42 and a beta of 1.27. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The business has a fifty day moving average price of $182.39 and a 200 day moving average price of $179.19.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The firm 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Research analysts predict 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. Shareholders of record on Friday, August 29th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 29th. 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 yield of 1.2%. Dover's payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOV. Royal Bank Of Canada lifted their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Robert W. Baird lifted their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Mizuho lifted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $213.92.

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.