National Pension Service Buys 25,662 Shares of Dover Corporation $DOV

Key Points

• The National Pension Service increased its stake in Dover Corporation by 12.3%, owning approximately 233,672 shares worth $41.05 million as of its latest filing.
• A number of equities analysts raised their price targets for Dover, with JPMorgan increasing its target from $211.00 to $217.00 and Mizuho raising it from $215.00 to $225.00.
• Dover recently announced a quarterly dividend of $0.52 per share, reflecting an annualized yield of 1.2%, and is a boost from the previous quarter’s dividend.

National Pension Service lifted its position in Dover Corporation (NYSE:DOV - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,672 shares of the industrial products company's stock after purchasing an additional 25,662 shares during the period. National Pension Service owned about 0.17% of Dover worth $41,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. North Capital Inc. purchased a new stake in shares of Dover in the first quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the first quarter worth $31,000. Costello Asset Management INC purchased a new stake in shares of Dover in the first quarter worth $35,000. Orion Capital Management LLC purchased a new stake in shares of Dover in the fourth quarter worth $43,000. Finally, SouthState Corp purchased a new stake in shares of Dover in the first quarter worth $43,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DOV. Robert W. Baird raised their target price on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays raised their target price on shares of Dover from $185.00 to $193.00 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 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada raised their target price on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Mizuho raised their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Trading Down 0.8%

Shares of Dover stock traded down $1.4450 during trading on Wednesday, hitting $178.2650. The stock had a trading volume of 302,812 shares, compared to its average volume of 1,060,592. The firm's fifty day simple moving average is $182.19 and its 200-day simple moving average is $181.18. The stock has a market cap of $24.45 billion, a PE ratio of 10.75, a PEG ratio of 1.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. 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 released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, sell-side analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is 12.42%.

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.