Dover Corporation $DOV Shares Purchased by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. increased its stake in Dover Corporation by 34.3%, acquiring an additional 3,603 shares and bringing its total holdings to 14,114 shares valued at approximately $2.48 million.
• The company's recent earnings report revealed $2.44 EPS, exceeding analysts' expectations of $2.39, with a revenue of $2.05 billion, which is a 5.2% year-over-year increase.
• Dover Corporation announced a quarterly dividend of $0.52 per share, maintaining a 1.2% dividend yield and a payout ratio of 12.55%.

Nomura Holdings Inc. grew its holdings in Dover Corporation (NYSE:DOV - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,114 shares of the industrial products company's stock after purchasing an additional 3,603 shares during the quarter. Nomura Holdings Inc.'s holdings in Dover were worth $2,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. North Capital Inc. purchased a new position in shares of Dover in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Dover in the first quarter valued at approximately $31,000. Truvestments Capital LLC boosted its stake in shares of 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 period. Costello Asset Management INC purchased a new position in shares of Dover in the first quarter valued at approximately $35,000. Finally, Orion Capital Management LLC purchased a new position in Dover in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of Dover stock traded down $0.62 on Friday, hitting $177.74. The company's stock had a trading volume of 1,047,509 shares, compared to its average volume of 810,963. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a fifty day moving average price of $182.39 and a 200-day moving average price of $179.01. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $24.37 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $2.36 EPS. The company'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. On average, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed 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. 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%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 12.55%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DOV. Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Mizuho lifted their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Citigroup reiterated a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays raised their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. 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 currently has an average rating of "Moderate Buy" and a consensus price target 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.