Candriam S.C.A. Lowers Holdings in Dover Corporation $DOV

Key Points

• Candriam S.C.A. reduced its holdings in Dover Corporation by 22.7%, now owning 54,392 shares worth approximately $9.56 million.
• Analysts have raised their price targets for Dover shares, with Robert W. Baird increasing it from $219.00 to $234.00 and a consensus rating of "Moderate Buy".
• Dover announced a quarterly dividend of $0.52 per share, increasing its annualized dividend yield to 1.2%.

Candriam S.C.A. trimmed its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 22.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,392 shares of the industrial products company's stock after selling 15,938 shares during the quarter. Candriam S.C.A.'s holdings in Dover were worth $9,556,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in Dover in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Dover in the 1st quarter valued at about $31,000. Costello Asset Management INC purchased a new position in shares of Dover in the 1st quarter valued at about $35,000. Orion Capital Management LLC acquired a new stake in Dover in the fourth quarter valued at approximately $43,000. Finally, SouthState Corp purchased a new position in Dover in the first quarter worth approximately $43,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DOV. Royal Bank Of Canada lifted their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wells Fargo & Company upped 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. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, Citigroup reiterated a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

Shares of NYSE DOV traded up $1.66 during midday trading on Tuesday, reaching $182.17. 1,403,666 shares of the company were exchanged, compared to its average volume of 1,055,570. The stock has a market cap of $24.98 billion, a P/E ratio of 10.99, a PEG ratio of 1.46 and a beta of 1.26. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a fifty day simple moving average of $182.31 and a 200 day simple moving average of $180.36. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

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, topping analysts' consensus estimates 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 analysts' expectations of $2.03 billion. During the same period last year, the firm earned $2.36 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.52 per share. 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. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Dover's payout ratio is currently 12.42%.

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.