Dover Corporation $DOV Shares Bought by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC increased its stake in Dover Corporation by 29% during Q2, holding a total of 11,306 shares worth approximately $2.07 million.
• Several analysts have raised their price targets for Dover, with Citigroup setting a new target at $226 and JPMorgan Chase increasing it to $217, reflecting a consensus rating of "Moderate Buy."
• Dover recently declared a quarterly dividend of $0.52 per share, representing a yield of 1.2% and a payout ratio of 12.55%.

Park Avenue Securities LLC lifted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 29.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,306 shares of the industrial products company's stock after acquiring an additional 2,544 shares during the quarter. Park Avenue Securities LLC's holdings in Dover were worth $2,072,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock valued at $552,000 after buying an additional 1,128 shares during the period. Toronto Dominion Bank lifted its stake in shares of Dover by 7.9% in the fourth quarter. Toronto Dominion Bank now owns 73,436 shares of the industrial products company's stock valued at $13,777,000 after purchasing an additional 5,378 shares during the period. Mackenzie Financial Corp boosted its holdings in Dover by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 13,308 shares of the industrial products company's stock worth $2,497,000 after buying an additional 641 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Dover during the fourth quarter worth about $69,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Dover in the fourth quarter valued at about $21,488,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on DOV. Barclays boosted their price target on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their target price on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target 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 reiterated a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Down 1.1%

DOV opened at $167.26 on Thursday. The firm has a market cap of $22.94 billion, a P/E ratio of 10.09, a PEG ratio of 1.35 and a beta of 1.27. The business's fifty day simple moving average is $178.53 and its 200 day simple moving average is $177.16. 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 released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (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 net margin of 29.29% and a return on equity of 18.19%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend 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.

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