Geneos Wealth Management Inc. Has $4.27 Million Holdings in Dover Corporation $DOV

Key Points

• Geneos Wealth Management Inc. increased its stake in Dover Corporation by 14.5% in the first quarter, now holding 24,321 shares valued at approximately $4.27 million.
• Dover Corporation reported $2.44 EPS for its latest quarter, exceeding analysts' expectations of $2.39, with revenue increasing by 5.2% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, which represents an annual yield of 1.2%, and has a payout ratio of 12.55%.

Geneos Wealth Management Inc. increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,321 shares of the industrial products company's stock after purchasing an additional 3,082 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Dover were worth $4,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after purchasing an additional 106,679 shares in the last quarter. Nuveen LLC purchased a new position in Dover in the 1st quarter worth about $526,081,000. Invesco Ltd. increased its stake in Dover by 7.9% in the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after purchasing an additional 93,483 shares in the last quarter. ProShare Advisors LLC increased its stake in Dover by 1.4% in the 4th quarter. ProShare Advisors LLC now owns 1,034,790 shares of the industrial products company's stock worth $194,127,000 after purchasing an additional 14,202 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Dover by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company's stock valued at $172,759,000 after acquiring an additional 19,387 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on DOV shares. Barclays lifted their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Robert W. Baird lifted their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Down 0.0%

Shares of NYSE DOV traded down $0.04 during trading hours on Tuesday, hitting $171.91. The stock had a trading volume of 274,062 shares, compared to its average volume of 1,040,802. The firm's 50-day moving average price is $181.03 and its two-hundred day moving average price is $177.85. Dover Corporation has a 52 week low of $143.04 and a 52 week 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 $23.57 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.38 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase 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 currently 12.55%.

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.