Gotham Asset Management LLC Purchases 1,913 Shares of Dover Corporation $DOV

Key Points

• Gotham Asset Management LLC acquired an additional 1,913 shares of Dover Corporation in Q1, increasing its total holdings to 86,482 shares, valued at approximately $15.19 million.
• Dover reported earnings of $2.44 per share, exceeding analyst estimates, with revenue up 5.2% year-over-year at $2.05 billion.
• The company announced a quarterly dividend increase to $0.52, resulting in a 1.2% yield, with the payment scheduled for September 15th.

Gotham Asset Management LLC grew its holdings in Dover Corporation (NYSE:DOV - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,482 shares of the industrial products company's stock after purchasing an additional 1,913 shares during the period. Gotham Asset Management LLC owned approximately 0.06% of Dover worth $15,193,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DOV. North Capital Inc. purchased a new stake in shares of Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the first quarter valued at $31,000. Truvestments Capital LLC raised its holdings in shares of 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 acquiring an additional 171 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Dover during the first quarter worth $35,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Dover during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Performance

Shares of NYSE:DOV traded down $3.21 during midday trading on Tuesday, hitting $174.79. The company's stock had a trading volume of 764,637 shares, compared to its average volume of 1,047,575. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.42 and a beta of 1.27. The stock's 50 day simple moving average is $182.28 and its 200 day simple moving average is $178.66. 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.

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 (EPS) for the quarter, beating the consensus estimate 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%.The firm's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOV. JPMorgan Chase & Co. increased their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Barclays increased their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Mizuho increased their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Citigroup restated 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. Finally, Wells Fargo & Company raised 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. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.