Nissay Asset Management Corp Japan ADV Acquires 1,430 Shares of Dover Corporation $DOV

Key Points

• Nissay Asset Management Corp Japan ADV has increased its stake in Dover Corporation (NYSE:DOV) by 2.7%, now owning 53,855 shares worth approximately $9.46 million.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Gotham Asset Management LLC, have also increased their stakes in Dover, with hedge funds now owning 84.46% of the company.
• Dover recently reported earnings of $2.44 per share, exceeding analyst expectations, and has announced an upcoming quarterly dividend of $0.52 per share, signaling continued financial strength.

Nissay Asset Management Corp Japan ADV increased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,855 shares of the industrial products company's stock after buying an additional 1,430 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Dover were worth $9,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DOV. North Capital Inc. bought a new stake in Dover during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover during the 1st quarter worth about $31,000. Truvestments Capital LLC raised its holdings in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after purchasing an additional 171 shares during the last quarter. Costello Asset Management INC bought a new stake in Dover during the 1st quarter worth about $35,000. Finally, Orion Capital Management LLC bought a new stake in Dover during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Up 1.3%

Shares of Dover stock traded up $2.34 on Thursday, reaching $177.98. 344,825 shares of the company were exchanged, compared to its average volume of 1,042,612. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.39 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 company has a 50-day moving average of $181.80 and a 200 day moving average of $178.61.

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 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 company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the business posted $2.36 EPS. The business's 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. On average, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOV. Robert W. Baird boosted their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their target price on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Citigroup restated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover 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.