Dover Corporation $DOV Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP decreased its stake in Dover Corporation by 1.8% during Q1, owning about 1.12% of the company valued at $270.8 million after selling 28,542 shares.
• Dover Corporation reported a EPS of $2.44, surpassing estimates, and its revenue increased by 5.2% year-over-year, totaling $2.05 billion during the last quarter.
• The company announced a quarterly dividend of $0.52 per share, marking a consistent distribution with a yielding ratio of 1.2% based on its current payout policy.

Dimensional Fund Advisors LP cut its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,541,408 shares of the industrial products company's stock after selling 28,542 shares during the period. Dimensional Fund Advisors LP owned 1.12% of Dover worth $270,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in shares of Dover during the 1st quarter valued at $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 purchased a new position in shares of Dover in the 4th quarter valued at about $43,000. Finally, SouthState Corp purchased a new position in shares of Dover in the 1st quarter valued at about $43,000. Institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DOV shares. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird boosted their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Mizuho upped their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded up $6.1880 during midday trading on Friday, reaching $183.5980. 367,872 shares of the company's stock traded hands, compared to its average volume of 1,058,128. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock has a 50 day moving average of $182.16 and a 200 day moving average of $180.99.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results 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 return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $2.36 EPS. Dover'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. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 29th. Dover's payout ratio is 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.