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Mirae Asset Global Investments Co. Ltd. Purchases 2,256 Shares of Dover Corporation $DOV

Dover logo with Industrials background

Key Points

  • Mirae Asset Global Investments increased its stake in Dover Corporation by 10.7%, acquiring an additional 2,256 shares, bringing its total holdings to 23,312 shares valued at approximately $4.27 million.
  • Analysts have given Dover a Moderate Buy rating, with a price target averaging $212.42, reflecting potential growth in the company’s stock.
  • Dover recently declared a quarterly dividend of $0.52, marking a consistent payout with a dividend yield of 1.2% and a payout ratio of 12.55%.
  • Five stocks to consider instead of Dover.

Mirae Asset Global Investments Co. Ltd. grew its position in Dover Corporation (NYSE:DOV - Free Report) by 10.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,312 shares of the industrial products company's stock after buying an additional 2,256 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Dover were worth $4,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Dover in the 1st quarter worth $526,081,000. Assenagon Asset Management S.A. raised its position in shares of Dover by 350.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after purchasing an additional 319,319 shares during the last quarter. Hsbc Holdings PLC grew its position in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Strs Ohio acquired a new position in Dover during the 1st quarter valued at approximately $40,148,000. Finally, Auto Owners Insurance Co raised its holdings in shares of Dover by 4,768.6% in the first quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company's stock worth $33,358,000 after buying an additional 185,977 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Dover in a research report on Saturday, September 27th. Mizuho raised their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. 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 report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Barclays dropped their price objective on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.42.

View Our Latest Research Report on DOV

Dover Price Performance

Shares of NYSE DOV opened at $166.54 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26. The firm's 50 day simple moving average is $175.10 and its 200-day simple moving average is $176.33. 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 announced its quarterly 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 the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $2.36 earnings per share. The firm's quarterly 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 expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is presently 12.55%.

About Dover

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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