Kovitz Investment Group Partners LLC Purchases 1,946 Shares of Dover Corporation $DOV

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Dover Corporation by 48.2% during the 1st quarter, bringing its total ownership to approximately $1.05 million.
• Multiple hedge funds have also enhanced their positions in Dover, with Nuveen LLC acquiring a new position worth $526 million, signaling increased institutional interest in the company.
• Dover reported earnings of $2.44 per share for the last quarter, surpassing consensus estimates, along with a 5.2% year-over-year revenue increase.

Kovitz Investment Group Partners LLC grew its holdings in Dover Corporation (NYSE:DOV - Free Report) by 48.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,981 shares of the industrial products company's stock after purchasing an additional 1,946 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Dover were worth $1,051,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Fifth Third Wealth Advisors LLC increased its position in shares of Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after purchasing an additional 67 shares during the last quarter. Lido Advisors LLC raised its position in Dover by 1.4% during the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after acquiring an additional 69 shares in the last quarter. Colonial Trust Co SC lifted its stake in Dover by 11.1% in the fourth 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 last quarter. Premier Path Wealth Partners LLC grew its position in shares of 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 shares of 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 purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

NYSE:DOV traded up $5.48 during mid-day trading on Friday, reaching $182.89. 1,059,336 shares of the company's stock were exchanged, compared to its average volume of 1,033,277. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The business's fifty day simple moving average is $182.29 and its two-hundred day simple moving average is $180.85. The firm has a market capitalization of $25.08 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last announced its 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $2.36 EPS. The business's 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. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal 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 paid a dividend of $0.52 per share. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Dover's dividend payout ratio is 12.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective 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, Royal Bank Of Canada increased their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.