Dover Corporation $DOV Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. sold 13,023 shares of Dover Corporation, reducing its stake by 45% during the 1st quarter, leaving it with 15,948 shares valued at approximately $2.8 million.
• Multiple institutional investors have recently increased their stakes in Dover, with Golden State Wealth Management LLC growing its holdings by 707.3% in the same period.
• Dover reported a quarterly EPS of $2.44, surpassing analyst expectations, and declared a quarterly dividend of $0.52, representing an annual yield of 1.2%.

Meiji Yasuda Asset Management Co Ltd. reduced its stake in Dover Corporation (NYSE:DOV - Free Report) by 45.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,948 shares of the industrial products company's stock after selling 13,023 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Dover were worth $2,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DOV. North Capital Inc. purchased a new stake in shares of Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover in the first quarter valued at $31,000. Truvestments Capital LLC increased its stake 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 acquired a new position in Dover in the first quarter valued at $35,000. Finally, Orion Capital Management LLC acquired a new position in Dover in the fourth quarter valued at $43,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 2.8%

NYSE:DOV traded down $4.95 on Friday, hitting $173.15. 1,133,052 shares of the stock were exchanged, compared to its average volume of 1,047,181. The stock has a market cap of $23.74 billion, a PE ratio of 10.44, a PEG ratio of 1.40 and a beta of 1.27. 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 stock has a fifty day moving average of $181.62 and a 200-day moving average of $178.47. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results 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. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The company's revenue for the quarter 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 analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. Mizuho upped their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their price target on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

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.