Korea Investment CORP Has $15.51 Million Position in Dover Corporation $DOV

Key Points

• Korea Investment CORP reduced its stake in Dover Corporation by 6.5%, holding approximately $15.51 million worth of shares after selling 6,143 during the first quarter.
• Analysts have adjusted their target prices for Dover, with JPMorgan Chase & Co. raising its target from $211 to $217, while Robert W. Baird increased it to $234, reflecting a general positive outlook on the stock.
• Dover recently announced a quarterly dividend of $0.52 per share, marking an increase from the previous dividend, with a payout ratio of 12.55%.

Korea Investment CORP lessened its position in Dover Corporation (NYSE:DOV - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,289 shares of the industrial products company's stock after selling 6,143 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Dover worth $15,511,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in shares of Dover by 38.4% during the 1st quarter. Brooklyn Investment Group now owns 760 shares of the industrial products company's stock worth $133,000 after acquiring an additional 211 shares in the last quarter. Mill Creek Capital Advisors LLC bought a new position in Dover in the first quarter valued at $569,000. Raymond James Financial Inc. increased its stake in Dover by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 171,766 shares of the industrial products company's stock valued at $30,176,000 after buying an additional 7,903 shares during the last quarter. American Century Companies Inc. lifted its position in Dover by 9.4% during the 1st quarter. American Century Companies Inc. now owns 832,542 shares of the industrial products company's stock worth $146,261,000 after buying an additional 71,196 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in shares of Dover during the 1st quarter worth about $2,629,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Robert W. Baird boosted their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reissued a "buy" rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, 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 research note on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Down 0.6%

DOV opened at $178.5770 on Thursday. The stock's fifty day simple moving average is $182.19 and its 200 day simple moving average is $181.17. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market cap of $24.49 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 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 the consensus estimate of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 earnings per share 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 given a dividend of $0.52 per share. 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. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

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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