Dover Corporation $DOV Stake Raised by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Dover Corporation by 8.8%, acquiring 2,217 additional shares, bringing its total holdings to 27,293 shares valued at $5 million.
• Dover Corporation reported Q2 earnings per share (EPS) of $2.44, exceeding estimates, with a year-over-year revenue growth of 5.2%.
• The company recently announced a quarterly dividend of $0.52 per share, maintaining a payout ratio of 12.55%, with a dividend yield of 1.2%.

IFM Investors Pty Ltd lifted its position in Dover Corporation (NYSE:DOV - Free Report) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,293 shares of the industrial products company's stock after buying an additional 2,217 shares during the period. IFM Investors Pty Ltd's holdings in Dover were worth $5,001,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. North Capital Inc. bought a new position in shares of Dover during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the 1st quarter valued at $31,000. Truvestments Capital LLC raised its holdings in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares during the period. Costello Asset Management INC bought a new stake in shares of Dover in the 1st quarter valued at about $35,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Dover during the first quarter valued at approximately $35,000. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Royal Bank Of Canada increased their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Citigroup reissued a "buy" rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Robert W. Baird lifted their price target 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. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Down 0.6%

DOV stock traded down $1.08 during midday trading on Monday, hitting $170.26. The company's stock had a trading volume of 855,464 shares, compared to its average volume of 843,781. The firm has a market capitalization of $23.35 billion, a P/E ratio of 10.27, a PEG ratio of 1.36 and a beta of 1.27. The firm has a 50-day simple moving average of $179.30 and a 200-day simple moving average of $177.29. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm earned $2.36 earnings per share. Dover's quarterly 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date was Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's payout ratio is currently 12.55%.

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.