Dover Corporation $DOV Shares Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Dover Corporation by 749.8% during the first quarter of the year, owning 78,648 shares valued at approximately $13.8 million.
• Dover recently reported a net margin of 29.29% and earnings per share of $2.44, surpassing analysts' expectations and showing a year-over-year revenue increase of 5.2%.
• The company announced an increased quarterly dividend of $0.52 per share, representing an annual yield of 1.2%, with the next payment scheduled for September 15th.

Jones Financial Companies Lllp raised its holdings in Dover Corporation (NYSE:DOV - Free Report) by 749.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,648 shares of the industrial products company's stock after acquiring an additional 69,393 shares during the quarter. Jones Financial Companies Lllp owned 0.06% of Dover worth $13,817,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. Dynamic Technology Lab Private Ltd lifted its stake in shares of Dover by 550.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 8,649 shares of the industrial products company's stock valued at $1,520,000 after purchasing an additional 7,320 shares during the period. Teza Capital Management LLC purchased a new position in Dover in the first quarter valued at about $944,000. UniSuper Management Pty Ltd lifted its position in shares of Dover by 141.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 34,679 shares of the industrial products company's stock valued at $6,092,000 after acquiring an additional 20,336 shares during the period. Scientech Research LLC purchased a new stake in shares of Dover during the 1st quarter worth approximately $886,000. Finally, Shellback Capital LP acquired a new stake in shares of Dover in the 1st quarter worth approximately $18,807,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE:DOV opened at $177.86 on Tuesday. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company's 50-day moving average is $182.28 and its two-hundred day moving average is $178.66.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Dover's dividend payout ratio (DPR) is presently 12.55%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOV. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Barclays lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. 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, Citigroup reaffirmed a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

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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