MBB Public Markets I LLC Buys Shares of 1,742 Dover Corporation $DOV

Key Points

• MBB Public Markets I LLC purchased 1,742 shares of Dover Corporation, valued at approximately $306,000, marking a significant new investment in the company.
• Dover reported earnings of $2.44 EPS for the last quarter, exceeding analyst estimates, and achieved a revenue increase of 5.2% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.52, indicating a consistent return to shareholders, with a dividend yield of 1.2%.

MBB Public Markets I LLC bought a new position in Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,742 shares of the industrial products company's stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. North Capital Inc. purchased a new stake in Dover in 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. Truvestments Capital LLC lifted its position in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 171 shares during the last quarter. Costello Asset Management INC bought a new stake in Dover in the first quarter valued at approximately $35,000. Finally, Orion Capital Management LLC bought a new stake in Dover in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.6%

Shares of Dover stock opened at $175.66 on Thursday. 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 company's fifty day simple moving average is $181.80 and its two-hundred day simple moving average is $178.61. The company has a market cap of $24.09 billion, a P/E ratio of 10.59, a PEG ratio of 1.39 and a beta of 1.27. Dover Corporation has a 12-month low of $143.04 and a 12-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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is currently 12.55%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Robert W. Baird boosted their price objective on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays boosted their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Dover has an average rating of "Moderate Buy" and an average price target of $213.92.

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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