Geneos Wealth Management Inc. Boosts Stock 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. boosted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 14.5% in the 1st quarter, according to the company in 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 buying an additional 3,082 shares during the period. Geneos Wealth Management Inc.'s holdings in Dover were worth $4,273,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in shares of 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 grew its position in shares of 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 grew its position 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 purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co purchased a new stake in shares of Dover in the first quarter valued at approximately $739,000. Finally, Hsbc Holdings PLC grew its position 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 purchasing an additional 268,931 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 0.6%

Shares of Dover stock opened at $175.66 on Thursday. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.39 and a beta of 1.27. 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 quick ratio of 1.35 and a current ratio of 1.95. The stock has a 50 day moving average of $181.80 and a 200 day moving average of $178.61.

Dover (NYSE:DOV - Get Free Report) last released its quarterly 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. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the firm earned $2.36 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Citigroup restated a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company increased their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Barclays increased their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Seven 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, Dover has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover 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.

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