Ieq Capital LLC Cuts Stock Position in Dover Corporation $DOV

Key Points

• Ieq Capital LLC has reduced its holdings in Dover Corporation by 63.8%, selling off 6,355 shares, leaving them with 3,611 shares valued at $634,000.
• Brokerages have adjusted their target prices for Dover, with Mizuho raising it to $225.00 and Citigroup setting it at $226.00, indicating a generally positive outlook with an average rating of "Moderate Buy."
• Dover Corporation has announced a quarterly dividend of $0.52 per share, reflecting a consistent payout strategy with a low dividend payout ratio of 12.55%.

Ieq Capital LLC decreased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 63.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,611 shares of the industrial products company's stock after selling 6,355 shares during the quarter. Ieq Capital LLC's holdings in Dover were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Capital Inc. acquired a new position in Dover during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover in the first quarter worth approximately $31,000. Costello Asset Management INC purchased a new stake in Dover in the 1st quarter valued at about $35,000. Orion Capital Management LLC acquired a new position in Dover during the 4th quarter valued at approximately $43,000. Finally, SouthState Corp acquired a new stake in shares of Dover during the first quarter valued at about $43,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DOV shares. Robert W. Baird raised their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price target on 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 Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Barclays upped their target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their target price 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Price Performance

Shares of Dover stock traded up $0.05 during trading on Monday, hitting $177.80. 521,680 shares of the company were exchanged, compared to its average volume of 1,045,621. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.42 and a beta of 1.27. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two 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 firm has a 50 day moving average price of $182.39 and a 200 day moving average price of $178.82.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $2.36 earnings per share. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase 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 currently 12.55%.

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.