Earnest Partners LLC Trims Stock Holdings in Dover Corporation $DOV

Key Points

• Earnest Partners LLC reduced its stake in Dover Corporation by 2.9%, now owning around 407,124 shares valued at approximately $71.5 million.
• Dover's recent quarterly earnings surpassed expectations, reporting an EPS of $2.44 and revenue of $2.05 billion, reflecting a year-over-year revenue growth of 5.2%.
• The company announced a quarterly dividend of $0.52, indicating a consistent payout with a current yield of 1.1%.

Earnest Partners LLC trimmed its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 407,124 shares of the industrial products company's stock after selling 12,272 shares during the quarter. Earnest Partners LLC owned 0.30% of Dover worth $71,524,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOV. North Capital Inc. acquired a new position in Dover in the 1st quarter valued at about $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. Truvestments Capital LLC lifted its stake in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after purchasing an additional 171 shares during the last quarter. Costello Asset Management INC purchased a new stake in Dover during the first quarter worth approximately $35,000. Finally, Orion Capital Management LLC acquired a new position in Dover during the fourth quarter worth approximately $43,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

DOV traded down $2.70 during trading on Monday, reaching $178.89. 496,968 shares of the stock were exchanged, compared to its average volume of 895,204. The business's 50 day moving average price is $182.78 and its two-hundred day moving average price is $179.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.42 and a beta of 1.27. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.36 earnings per share. 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 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. 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 dividend on an annualized basis and a yield of 1.2%. Dover's dividend payout ratio (DPR) is presently 12.55%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DOV shares. Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.