Amundi Purchases 101,961 Shares of Dover Corporation $DOV

Key Points

• Amundi increased its stake in Dover Corporation by 15.7%, owning 750,486 shares valued at approximately $122.1 million at the end of the first quarter.
• Dover reported a quarterly EPS of $2.44, surpassing analysts' estimates and projecting FY 2025 EPS guidance between 9.350 and 9.550.
• The company recently announced a quarterly dividend of $0.52 per share, representing a yield of 1.2% and an increase from the previous dividend payout.

Amundi lifted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 15.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 750,486 shares of the industrial products company's stock after buying an additional 101,961 shares during the period. Amundi owned approximately 0.55% of Dover worth $122,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Golden State Wealth Management LLC grew its holdings in shares of Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after acquiring an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Dover by 10.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after purchasing an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after purchasing an additional 187 shares during the period. Heartland Bank & Trust Co bought a new stake in Dover during the first quarter valued at approximately $739,000. Finally, Hsbc Holdings PLC raised its position in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after acquiring an additional 268,931 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. Barclays boosted their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird boosted their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Price Performance

DOV stock traded up $2.46 during trading on Thursday, hitting $178.10. 1,031,745 shares of the company's stock traded hands, compared to its average volume of 804,301. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $24.42 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.40 and a beta of 1.27. The business has a fifty day simple moving average of $181.62 and a 200 day simple moving average of $178.47. 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 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 firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $2.36 EPS. The business's revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 12.55%.

About Dover

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.