Matisse Capital Takes Position in Dover Corporation $DOV

Key Points

• Matisse Capital has acquired a new stake in Dover Corporation, purchasing 2,313 shares valued at approximately $424,000 during the second quarter.
• Dover recently reported a quarterly earnings per share (EPS) of $2.44, exceeding expectations, with a revenue increase of 5.2% year-over-year.
• The company announced a quarterly dividend of $0.52, reflecting a 1.3% yield, which is consistent with its previous dividend payout.

Matisse Capital purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,313 shares of the industrial products company's stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Shell Asset Management Co. increased its stake in shares of Dover by 116.9% during the 2nd quarter. Shell Asset Management Co. now owns 7,397 shares of the industrial products company's stock worth $1,355,000 after purchasing an additional 3,987 shares in the last quarter. Cullinan Associates Inc. purchased a new position in shares of Dover during the 2nd quarter worth approximately $861,000. Valeo Financial Advisors LLC increased its stake in shares of Dover by 8.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the industrial products company's stock worth $284,000 after purchasing an additional 123 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Dover by 4.1% during the 2nd quarter. DAVENPORT & Co LLC now owns 5,302 shares of the industrial products company's stock worth $971,000 after purchasing an additional 207 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. purchased a new position in shares of Dover during the 2nd quarter worth approximately $212,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

NYSE:DOV opened at $164.75 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $22.59 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.33 and a beta of 1.26. The firm's fifty day simple moving average is $174.71 and its 200 day simple moving average is $176.25. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 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 previous year, the business posted $2.36 EPS. The firm'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. As a group, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is presently 12.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DOV. Robert W. Baird raised their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Wells Fargo & Company lowered their target price on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday. Mizuho lifted their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dover in a research note on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Dover has an average rating of "Moderate Buy" and an average price target of $212.42.

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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