Dover Corporation $DOV Shares Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Dover Corporation by 13.7% during the 2nd quarter, owning 61,277 shares valued at approximately $11.2 million at the end of the period.
• Dover recently reported earnings of $2.44 per share, exceeding analysts' expectations, along with a revenue of $2.05 billion, marking a 5.2% increase year-over-year.
• The company announced a quarterly dividend of $0.52, which provides an annualized yield of 1.2%, reflecting an increase from the previous dividend payout.

Pallas Capital Advisors LLC increased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 13.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 61,277 shares of the industrial products company's stock after acquiring an additional 7,378 shares during the period. Pallas Capital Advisors LLC's holdings in Dover were worth $11,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after buying an additional 106,679 shares in the last quarter. Nuveen LLC acquired a new position in shares of Dover in the first quarter worth about $526,081,000. Invesco Ltd. lifted its stake in shares of Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after acquiring an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company's stock worth $172,759,000 after acquiring an additional 19,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock worth $147,680,000 after acquiring an additional 12,518 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Mizuho upped 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. Citigroup restated 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. Royal Bank Of Canada upped their price objective on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their price objective on Dover from $190.00 to $195.00 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 given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

Shares of DOV traded down $1.54 during mid-day trading on Friday, reaching $171.26. 1,492,689 shares of the company's stock traded hands, compared to its average volume of 1,044,381. The business's 50-day moving average price is $180.02 and its 200-day moving average price is $177.63. The stock has a market capitalization of $23.48 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. 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 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion for 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%.The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current 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 a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover's dividend payout ratio (DPR) is 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.