Townsquare Capital LLC Acquires 1,549 Shares of Dover Corporation $DOV

Key Points

• Townsquare Capital LLC increased its stake in Dover Corporation by 60.2% in the first quarter, owning 4,121 shares valued at $724,000.
• Dover Corporation recently reported earnings of $2.44 per share, outperforming analysts' expectations and showing a 5.2% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.52 per share, reflecting an increase and a yield of 1.2%.

Townsquare Capital LLC increased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 60.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121 shares of the industrial products company's stock after purchasing an additional 1,549 shares during the period. Townsquare Capital LLC's holdings in Dover were worth $724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOV. Golden State Wealth Management LLC lifted its position in Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 1,740 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after acquiring an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after buying an additional 187 shares during the last quarter. Heartland Bank & Trust Co purchased a new stake in shares of Dover in the first quarter valued at about $739,000. Finally, GAMMA Investing LLC raised its holdings in shares of Dover by 104.5% in the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock valued at $563,000 after buying an additional 1,638 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOV. JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Barclays lifted their price target on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, Mizuho raised their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Price Performance

Shares of Dover stock traded up $2.4080 during mid-day trading on Tuesday, reaching $179.5580. 1,379,010 shares of the stock were exchanged, compared to its average volume of 1,065,522. The company has a market cap of $24.62 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. 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 $182.23 and a 200 day simple moving average of $181.19. 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 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. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend 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 payout ratio is currently 12.42%.

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.