QRG Capital Management Inc. Purchases 31,674 Shares of Dover Corporation $DOV

Key Points

• QRG Capital Management Inc. increased its stake in Dover Corporation by 34.5%, acquiring 31,674 shares and bringing its total ownership to 123,390 shares, valued at approximately $22.6 million.
• Analysts have set varying price targets for Dover, with JPMorgan Chase & Co. raising their target from $211 to $217 and Robert W. Baird from $219 to $234, indicating a consensus rating of "Moderate Buy".
• Dover recently declared a quarterly dividend of $0.52 per share, representing a 1.2% yield, and the company has a low dividend payout ratio of 12.55%.

QRG Capital Management Inc. boosted its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 34.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,390 shares of the industrial products company's stock after buying an additional 31,674 shares during the period. QRG Capital Management Inc. owned approximately 0.09% of Dover worth $22,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DOV. North Capital Inc. purchased a new position in Dover during the first quarter valued at $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Dover in the first quarter valued at about $31,000. Investment Research & Advisory Group Inc. bought a new stake in shares of Dover in the second quarter worth about $33,000. Truvestments Capital LLC increased its holdings 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 worth $33,000 after purchasing an additional 171 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Dover in the first quarter worth about $35,000. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

DOV has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Royal Bank Of Canada boosted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Barclays reduced their price objective on Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of Dover in a research note on Saturday, September 27th. Finally, Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $213.67.

Dover Trading Down 0.1%

DOV opened at $166.54 on Friday. 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 company's 50 day simple moving average is $175.46 and its two-hundred day simple moving average is $176.50. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26.

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 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $2.36 EPS. The business's revenue was up 5.2% on a year-over-year basis. 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 fiscal year.

Dover Increases Dividend

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

Dover Company 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.

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