Hudson Edge Investment Partners Inc. Raises Position in Dover Corporation $DOV

Key Points

• Hudson Edge Investment Partners Inc. increased its stake in Dover Corporation by 7.5% in Q2, owning 35,977 shares valued at approximately $6.59 million after acquiring an additional 2,500 shares.
• Dover Corporation reported Q2 earnings of $2.44 per share, exceeding analyst expectations and forecasting a full-year EPS of $9.45.
• The company recently declared a quarterly dividend of $0.52 per share, representing an annual yield of 1.2%, which marks an increase from the previous dividend.

Hudson Edge Investment Partners Inc. raised its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,977 shares of the industrial products company's stock after buying an additional 2,500 shares during the quarter. Dover comprises about 1.1% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 23rd largest position. Hudson Edge Investment Partners Inc.'s holdings in Dover were worth $6,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. purchased a new position in shares of Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover in the first quarter valued at approximately $31,000. Investment Research & Advisory Group Inc. bought a new stake in Dover during the second quarter valued at approximately $33,000. Truvestments Capital LLC grew its stake in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after buying an additional 171 shares in the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Dover during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.1%

Shares of NYSE DOV opened at $166.49 on Friday. The firm's fifty day moving average is $175.86 and its 200 day moving average is $176.59. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $22.83 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $2.36 EPS. The company's revenue was up 5.2% on a year-over-year basis. 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 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis 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 presently 12.55%.

Analysts Set New Price Targets

A number of research analysts recently commented on DOV shares. JPMorgan Chase & Co. increased their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Citigroup reiterated a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays dropped their target price on Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a research report on Wednesday. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target 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. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average target price of $213.67.

Dover Company 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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