Dover Corporation $DOV Position Trimmed by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp reduced its stake in Dover Corporation by 62.5% in Q1, owning 3,137 shares valued at $551,000.
• Several research analysts have raised their price targets for Dover, with an average target now at $213.92, indicating a consensus rating of "Moderate Buy."
• Dover Corporation recently reported a quarterly EPS of $2.44, exceeding estimates, and announced a quarterly dividend of $0.52 per share.

Hancock Whitney Corp reduced its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 62.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,137 shares of the industrial products company's stock after selling 5,235 shares during the period. Hancock Whitney Corp's holdings in Dover were worth $551,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. North Capital Inc. acquired a new stake in shares of Dover during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover during the 1st quarter worth about $31,000. Truvestments Capital LLC boosted its stake in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after purchasing an additional 171 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Dover in the first quarter worth approximately $35,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Dover in the fourth quarter worth approximately $43,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 2.3%

DOV traded down $4.14 during trading on Friday, hitting $173.96. The company had a trading volume of 344,665 shares, compared to its average volume of 1,042,322. The company has a market cap of $23.86 billion, a PE ratio of 10.49, a P/E/G ratio of 1.40 and a beta of 1.27. The business has a 50-day moving average of $181.62 and a 200-day moving average of $178.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

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

Dover Increases Dividend

The firm 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 dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's payout ratio is presently 12.55%.

Analysts Set New Price Targets

DOV has been the topic of several research analyst reports. Citigroup reissued a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Royal Bank Of Canada boosted their price objective on shares of 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 boosted their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Barclays boosted their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Dover has an average rating of "Moderate Buy" and a consensus 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.