Federation des caisses Desjardins du Quebec Has $1.22 Million Holdings in Dover Corporation $DOV

Federation des caisses Desjardins du Quebec raised its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 34.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,958 shares of the industrial products company's stock after acquiring an additional 1,792 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Dover were worth $1,223,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in shares of Dover in the 1st quarter worth $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover in the 1st quarter worth $31,000. Truvestments Capital LLC raised its stake in shares of Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after buying an additional 171 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Dover in the 1st quarter worth $35,000. Finally, Orion Capital Management LLC bought a new stake in shares of Dover in the 4th quarter worth $43,000. Institutional investors own 84.46% of the company's stock.

Dover Stock Down 2.8%

Shares of DOV stock traded down $4.95 on Friday, reaching $173.15. 1,133,052 shares of the company's stock traded hands, compared to its average volume of 817,281. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The company has a market capitalization of $23.74 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The business's 50 day moving average price is $181.34 and its two-hundred day moving average price is $178.16.

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, 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 business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. Dover'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, equities analysts forecast 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 paid a $0.52 dividend. 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. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is presently 12.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOV. Barclays boosted their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wells Fargo & Company upped 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. Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average 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.