DRW Securities LLC Buys Shares of 1,400 Dover Corporation $DOV

Key Points

• DRW Securities LLC has acquired 1,400 shares of Dover Corporation, valued at approximately $246,000, as per its 1st quarter SEC filing.
• Several institutional investors, such as North Capital Inc. and N.E.W. Advisory Services LLC, are also increasing their positions in Dover, contributing to 84.46% institutional ownership of the company.
• Dover Corporation recently announced a quarterly dividend of $0.52 per share, reflecting a 1.2% dividend yield and a payout ratio of 12.55%.

DRW Securities LLC purchased a new stake in Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,400 shares of the industrial products company's stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings 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 purchasing an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 purchasing an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC boosted 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 acquiring an additional 187 shares during the period. Heartland Bank & Trust Co acquired a new stake in shares of Dover in the first quarter valued at approximately $739,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after acquiring an additional 268,931 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. increased their price objective on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report 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. 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 equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of NYSE DOV traded down $0.62 during mid-day trading on Friday, hitting $177.74. 1,047,509 shares of the company were exchanged, compared to its average volume of 810,963. 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 stock has a 50 day simple moving average of $182.39 and a 200-day simple moving average of $179.19. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market cap 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.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping 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 the consensus estimate of $2.03 billion. During the same period last year, the company earned $2.36 earnings per share. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio (DPR) is currently 12.55%.

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.