Pallas Capital Advisors LLC Purchases 7,378 Shares of Dover Corporation $DOV

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 raised its position in Dover Corporation (NYSE:DOV - Free Report) by 13.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,277 shares of the industrial products company's stock after buying 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.

Several other institutional investors also recently bought and sold shares of the company. Legacy Financial Advisors Inc. grew its stake in shares of Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock worth $726,000 after purchasing an additional 57 shares in the last quarter. Summit Financial LLC boosted its stake in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock valued at $1,159,000 after acquiring an additional 60 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 67 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 80 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in Dover by 4.8% in the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock valued at $322,000 after acquiring an additional 84 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOV has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. 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 note on Friday, July 25th. Finally, Mizuho increased 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Dover currently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Trading Down 0.9%

DOV traded down $1.54 during trading on Friday, reaching $171.26. 1,492,689 shares of the company's stock were exchanged, compared to its average volume of 822,115. The company's fifty day moving average price is $179.67 and its 200-day moving average price is $177.45. The firm has a market capitalization of $23.49 billion, a PE ratio of 10.33, a P/E/G ratio of 1.36 and a beta of 1.27. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. 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 (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $2.36 EPS. The firm's revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. 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.