Dover Corporation $DOV Stock Position Raised by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in Dover Corporation by 10.2%, owning 71,090 shares valued at approximately $12.49 million.
• Dover recently posted earnings of $2.44 per share, exceeding estimates, and reported a 5.2% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.52, reflecting a 1.2% yield and a payout ratio of 12.42%.

Neuberger Berman Group LLC boosted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,090 shares of the industrial products company's stock after buying an additional 6,580 shares during the quarter. Neuberger Berman Group LLC owned 0.05% of Dover worth $12,489,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. North Capital Inc. bought a new position in Dover during the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new position in Dover during the first quarter valued at about $31,000. Costello Asset Management INC bought a new position in Dover during the first quarter valued at about $35,000. Orion Capital Management LLC bought a new position in Dover during the fourth quarter valued at about $43,000. Finally, SouthState Corp purchased a new stake in shares of Dover during the first quarter valued at $43,000. Institutional investors own 84.46% of the company's stock.

Dover Stock Down 0.6%

Dover stock traded down $1.1330 during mid-day trading on Wednesday, hitting $178.5770. The company's stock had a trading volume of 881,052 shares, compared to its average volume of 1,140,014. The firm's 50 day moving average is $182.19 and its 200 day moving average is $181.17. The company has a market cap of $24.49 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.43 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 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data 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. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $2.36 EPS. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. 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 report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Mizuho upped their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average 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.