Dynamic Technology Lab Private Ltd Increases Stock Holdings in Dover Corporation $DOV

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its stake in Dover Corporation by 550.8%, holding a total of $1.52 million in shares by the end of the first quarter.
• Several institutional investors also made substantial moves, including Nuveen LLC, which invested approximately $526 million in Dover shares during the same period.
• Dover's recent performance shows a quarterly earnings per share (EPS) of $2.44, exceeding estimates, with a revenue increase of 5.2% year-over-year.

Dynamic Technology Lab Private Ltd lifted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 550.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,649 shares of the industrial products company's stock after acquiring an additional 7,320 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Dover were worth $1,520,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after purchasing an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC lifted its position in 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 last quarter. Heartland Bank & Trust Co acquired a new position in Dover in the first quarter valued at $739,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Performance

NYSE DOV traded up $0.98 on Wednesday, hitting $175.66. 882,253 shares of the company's stock were exchanged, compared to its average volume of 816,156. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.39 and a beta of 1.27. The firm's 50-day moving average price is $182.05 and its two-hundred day moving average price is $178.63. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $2.36 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts expect 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. Stockholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's dividend payout ratio is currently 12.55%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DOV. Citigroup restated a "buy" rating and set a $226.00 price target (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 stock an "equal weight" rating in a research report on Friday, July 25th. Barclays upped their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Mizuho raised their price objective 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, 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 report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Company 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.