Federated Hermes Inc. Cuts Stake in Dover Corporation (NYSE:DOV)

Key Points

• Federated Hermes Inc. has reduced its stake in Dover Corporation by 29.6%, now holding 36,907 shares valued at approximately $6.48 million.
• Dover's most recent earnings report showed a net margin of 29.29% and revenue increase of 5.2% year-over-year, with earnings per share of $2.44 exceeding analyst estimates.
• Investment analysts are generally positive on Dover stock, with a consensus rating of "Moderate Buy" and an average price target of $213.92.

Federated Hermes Inc. lowered its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 29.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,907 shares of the industrial products company's stock after selling 15,535 shares during the period. Federated Hermes Inc.'s holdings in Dover were worth $6,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of DOV. Ecofi Investissements SA grew its position in Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after buying an additional 50 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Dover by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 67 shares during the period. Lido Advisors LLC increased its stake in Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after buying an additional 69 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Dover by 11.1% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after buying an additional 72 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its holdings in shares of Dover by 5.5% in the 1st quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.6%

NYSE:DOV traded up $1.00 during trading hours on Tuesday, hitting $177.10. 1,085,079 shares of the company traded hands, compared to its average volume of 1,237,118. The company has a market cap of $24.29 billion, a PE ratio of 10.68, a PEG ratio of 1.40 and a beta of 1.26. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The firm's 50-day simple moving average is $182.61 and its 200-day simple moving average is $182.75.

Dover (NYSE:DOV - Get Free Report) last posted 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. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.36 EPS. Equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Mizuho increased 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, JPMorgan Chase & Co. increased their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $213.92.

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.