Graham Capital Management L.P. Sells 10,053 Shares of Dover Corporation $DOV

Key Points

• Graham Capital Management L.P. reduced its stake in Dover Corporation by 42.7%, selling 10,053 shares to hold a total of 13,500 shares valued at $2,372,000.
• Dover Corporation has reported earnings of $2.44 per share, exceeding analyst expectations, with a 5.2% increase in quarterly revenue year-over-year.
• The company plans to pay a quarterly dividend of $0.52 on September 15th, representing an annualized dividend yield of 1.2%.

Graham Capital Management L.P. reduced its stake in Dover Corporation (NYSE:DOV - Free Report) by 42.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,500 shares of the industrial products company's stock after selling 10,053 shares during the quarter. Graham Capital Management L.P.'s holdings in Dover were worth $2,372,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Dover in the first quarter valued at $526,081,000. GAMMA Investing LLC raised its stake in shares of Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after purchasing an additional 561,487 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after acquiring an additional 319,319 shares during the period. Woodline Partners LP grew its holdings in shares of Dover by 352.9% during the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after purchasing an additional 300,124 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a 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. Citigroup restated 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. Wells Fargo & Company upped their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Barclays upped their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Dover has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

NYSE:DOV traded down $0.62 during mid-day trading on Friday, hitting $177.74. 1,047,509 shares of the stock were exchanged, compared to its average volume of 810,963. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The firm's 50-day simple moving average is $182.39 and its 200 day simple moving average is $179.01. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating 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 firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm earned $2.36 EPS. The company's quarterly 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, equities analysts anticipate that Dover Corporation will post 9.45 EPS 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 given a dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is presently 12.55%.

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.