Dover Corporation $DOV Shares Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Dover Corporation by 6.7%, acquiring an additional 3,042 shares to total 48,683 shares valued at approximately $8.9 million.
• Dover Corporation reported a quarterly earnings per share of $2.44, surpassing analyst expectations of $2.39, and experienced a 5.2% increase in revenue year-over-year.
• The company increased its quarterly dividend to $0.52, reflecting a 1.2% yield, with a low payout ratio of 12.55%.

ASR Vermogensbeheer N.V. boosted its stake in Dover Corporation (NYSE:DOV - Free Report) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,683 shares of the industrial products company's stock after buying an additional 3,042 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Dover were worth $8,920,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. North Capital Inc. purchased a new position in shares of Dover in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the first quarter worth approximately $31,000. Investment Research & Advisory Group Inc. acquired a new position in Dover in the 2nd quarter valued at $33,000. Truvestments Capital LLC lifted its holdings in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 171 shares in the last quarter. Finally, Costello Asset Management INC acquired a new stake in Dover during the 1st quarter worth $35,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.1%

DOV stock opened at $166.49 on Friday. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The firm has a market cap of $22.83 billion, a PE ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26. The firm's 50 day moving average price is $175.86 and its 200-day moving average price is $176.59. 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 issued its quarterly earnings data 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. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $2.36 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Mizuho raised their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Citigroup restated a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Seven investment 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 presently has an average rating of "Moderate Buy" and an average target price of $213.67.

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.

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