Shell Asset Management Co. lifted its position in Dover Corporation (NYSE:DOV - Free Report) by 116.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,397 shares of the industrial products company's stock after purchasing an additional 3,987 shares during the quarter. Shell Asset Management Co.'s holdings in Dover were worth $1,355,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in Dover during the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover during the 1st quarter valued at approximately $31,000. Investment Research & Advisory Group Inc. purchased a new stake in Dover during the 2nd quarter valued at approximately $33,000. Truvestments Capital LLC raised its stake 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 last quarter. Finally, Costello Asset Management INC purchased a new stake in Dover during the 1st quarter valued at approximately $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.
Dover Stock Performance
NYSE DOV opened at $162.10 on Friday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a market capitalization of $22.23 billion, a P/E ratio of 9.78, a PEG ratio of 1.31 and a beta of 1.26. The business has a 50 day moving average price of $173.98 and a 200 day moving average price of $176.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.
Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.
Dover Increases Dividend
The business also recently declared 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. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.3%. Dover's dividend payout ratio (DPR) is 12.55%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on DOV shares. Royal Bank Of Canada increased their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Mizuho increased their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Wells Fargo & Company cut their target price on Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Citigroup reaffirmed a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus price target of $212.42.
Check Out Our Latest Stock Analysis on Dover
About Dover
(
Free Report)
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.
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