Cinctive Capital Management LP Has $1.73 Million Stock Holdings in Dover Corporation $DOV

Key Points

• Cinctive Capital Management LP reduced its stake in Dover Corporation by 53.4%, now holding 9,858 shares valued at approximately $1.73 million.
• Dover's Q2 earnings beat expectations, reporting $2.44 EPS and a revenue of $2.05 billion, which was a 5.2% year-over-year increase.
• The company increased its quarterly dividend to $0.52, yielding 1.2%, with the payout ratio at 12.55%.

Cinctive Capital Management LP lowered its stake in Dover Corporation (NYSE:DOV - Free Report) by 53.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,858 shares of the industrial products company's stock after selling 11,290 shares during the period. Cinctive Capital Management LP's holdings in Dover were worth $1,732,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock valued at $2,870,986,000 after purchasing an additional 106,679 shares during the period. Nuveen LLC acquired a new position in shares of Dover in the first quarter worth $526,081,000. Invesco Ltd. increased its stake in shares of Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after acquiring an additional 93,483 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Dover by 1.4% in the fourth quarter. ProShare Advisors LLC now owns 1,034,790 shares of the industrial products company's stock worth $194,127,000 after acquiring an additional 14,202 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock worth $147,680,000 after acquiring an additional 12,518 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Robert W. Baird upped their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Mizuho upped their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. 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 has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

Shares of DOV traded up $1.60 during midday trading on Wednesday, reaching $176.28. The stock had a trading volume of 180,088 shares, compared to its average volume of 1,042,504. The firm has a market cap of $24.17 billion, a PE ratio of 10.64, a P/E/G ratio of 1.42 and a beta of 1.27. 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 firm has a 50 day simple moving average of $182.05 and a 200-day simple moving average of $178.63. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $2.36 EPS. The business'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. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's payout ratio is currently 12.55%.

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.