Cresset Asset Management LLC Has $8.88 Million Stake in Dover Corporation $DOV

Key Points

• Cresset Asset Management LLC has reduced its holdings in Dover Corporation by 5.8%, owning 50,530 shares valued at approximately $8.88 million after selling 3,127 shares.
• Analysts have shown optimism for Dover, with multiple brokerage firms raising their price targets, including Citigroup's increase to $226.00 and Mizuho's to $225.00.
• Dover recently declared a quarterly dividend of $0.52, maintaining a low payout ratio of 12.55%, reflecting strong financial health as it continues to reward shareholders.

Cresset Asset Management LLC reduced its holdings in Dover Corporation (NYSE:DOV - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,530 shares of the industrial products company's stock after selling 3,127 shares during the period. Cresset Asset Management LLC's holdings in Dover were worth $8,877,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in Dover in the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the 1st quarter worth about $31,000. Costello Asset Management INC purchased a new stake in shares of Dover during the 1st quarter worth about $35,000. Orion Capital Management LLC purchased a new stake in shares of Dover during the 4th quarter worth about $43,000. Finally, SouthState Corp purchased a new stake in shares of Dover during the 1st quarter worth about $43,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV stock traded down $1.1330 during mid-day trading on Wednesday, reaching $178.5770. The stock had a trading volume of 881,052 shares, compared to its average volume of 1,140,014. The firm's 50 day simple moving average is $182.19 and its 200 day simple moving average is $181.17. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. 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 $24.49 billion, a PE ratio of 10.77, a P/E/G ratio of 1.43 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is presently 12.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Barclays increased their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Royal Bank Of Canada increased 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. Mizuho increased their price objective on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, Robert W. Baird increased their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.