Hsbc Holdings PLC Purchases 268,931 Shares of Dover Corporation $DOV

Key Points

• Hsbc Holdings PLC increased its stake in Dover Corporation by 77.9% in Q1, owning approximately 0.45% of the company's shares valued at $107.68 million.
• Dover Corporation announced a quarterly dividend of $0.52 per share, reflecting an annual yield of 1.2% as part of its positive financial results.
• Analysts have optimistic outlooks for Dover, with price targets ranging from $195.00 to $234.00, indicating a consensus rating of "Moderate Buy".

Hsbc Holdings PLC boosted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 77.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,098 shares of the industrial products company's stock after purchasing an additional 268,931 shares during the period. Hsbc Holdings PLC owned about 0.45% of Dover worth $107,677,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its stake in Dover by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after purchasing an additional 67 shares during the last quarter. Lido Advisors LLC raised its holdings in Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after acquiring an additional 69 shares during the period. Colonial Trust Co SC raised its holdings in Dover by 11.1% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after acquiring an additional 72 shares during the period. Premier Path Wealth Partners LLC raised its holdings in Dover by 5.5% in the 1st quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 80 shares during the period. Finally, First Affirmative Financial Network raised its holdings in Dover by 4.8% in the 1st quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock valued at $322,000 after acquiring an additional 84 shares during the period. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on DOV shares. Barclays increased their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price target on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Citigroup reaffirmed 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. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

Shares of DOV traded up $0.58 during mid-day trading on Tuesday, hitting $181.09. 128,358 shares of the company's stock were exchanged, compared to its average volume of 1,053,649. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock's 50-day simple moving average is $182.31 and its 200-day simple moving average is $180.36. The firm has a market cap of $24.83 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data 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 business 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% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover's payout ratio is 12.42%.

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.