Gulf International Bank UK Ltd Cuts Holdings in Dover Corporation $DOV

Key Points

• Gulf International Bank UK Ltd reduced its stake in Dover Corporation by 30.3%, holding 7,626 shares worth approximately $1.34 million at the end of the latest quarter.
• Dover Corporation reported $2.44 earnings per share (EPS) for its recent quarter, exceeding analyst expectations and reflecting a 5.2% revenue increase compared to the same period last year.
• The company declared a quarterly dividend of $0.52 per share, marking a positive turn in its dividend payout ratio, which stands at 12.42%.

Gulf International Bank UK Ltd decreased its stake in Dover Corporation (NYSE:DOV - Free Report) by 30.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,626 shares of the industrial products company's stock after selling 3,312 shares during the quarter. Gulf International Bank UK Ltd's holdings in Dover were worth $1,339,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Dover during the fourth quarter valued at approximately $30,741,000. Townsquare Capital LLC raised its holdings in shares of Dover by 29.5% during the fourth quarter. Townsquare Capital LLC now owns 2,572 shares of the industrial products company's stock valued at $483,000 after acquiring an additional 586 shares during the last quarter. Mariner LLC raised its holdings in shares of Dover by 15.1% during the fourth quarter. Mariner LLC now owns 24,648 shares of the industrial products company's stock valued at $4,624,000 after acquiring an additional 3,228 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new position in shares of Dover during the fourth quarter valued at approximately $476,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Down 0.8%

Shares of NYSE:DOV traded down $1.4450 on Wednesday, hitting $178.2650. 302,812 shares of the company's stock were exchanged, compared to its average volume of 1,060,592. The company has a market capitalization of $24.45 billion, a PE ratio of 10.75, a P/E/G ratio of 1.41 and a beta of 1.26. 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 Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm's 50-day moving average is $182.19 and its 200 day moving average is $181.18.

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, beating 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 business's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is currently 12.42%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased 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. Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their target price on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

About Dover

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.