Dover Corporation $DOV Shares Bought by Trifecta Capital Advisors LLC

Key Points

• Trifecta Capital Advisors LLC significantly increased its holdings in Dover Corporation by 2,304.0% during the second quarter, bringing their total to 2,404 shares valued at approximately $440,000.
• Dover Corporation reported earnings of $2.44 EPS for the last quarter, exceeding analysts' expectations, and set its FY 2025 guidance at 9.350-9.550 EPS.
• The company recently announced a quarterly dividend of $0.52, representing an annualized yield of 1.3%, reflecting an increase from its previous payout.

Trifecta Capital Advisors LLC raised its position in Dover Corporation (NYSE:DOV - Free Report) by 2,304.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,404 shares of the industrial products company's stock after acquiring an additional 2,304 shares during the period. Trifecta Capital Advisors LLC's holdings in Dover were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DOV. North Capital Inc. acquired a new stake in shares of Dover in the 1st quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover in the 1st quarter worth $31,000. Truvestments Capital LLC lifted its stake in shares of Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares during the period. Investment Research & Advisory Group Inc. acquired a new stake in shares of Dover in the 2nd quarter worth $33,000. Finally, Costello Asset Management INC acquired a new stake in shares of Dover in the first quarter valued at about $35,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Dover stock opened at $164.75 on Thursday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a 50 day moving average price of $174.36 and a 200 day moving average price of $176.17. The company has a market cap of $22.59 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.31 and a beta of 1.26. 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 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. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $2.36 earnings per share. Dover'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. Sell-side analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. 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 1.3%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 12.55%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DOV. Barclays reduced their price objective on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. JPMorgan Chase & Co. lifted 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. Mizuho lifted their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Robert W. Baird lifted their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company cut their target price on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.42.

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.

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