Russell Investments Group Ltd. Increases Stake in Dover Corporation $DOV

Key Points

• Russell Investments Group Ltd. increased its holdings in Dover Corporation by 8.7% during the 1st quarter, owning 117,057 shares valued at approximately $20.56 million.
• Dover Corporation reported $2.44 earnings per share for its latest quarter, exceeding analyst estimates and marking a 5.2% revenue growth year-over-year with total revenue of $2.05 billion.
• The company recently declared a quarterly dividend of $0.52 per share, yielding 1.2%, reflecting a positive change from previous payments.

Russell Investments Group Ltd. grew its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 117,057 shares of the industrial products company's stock after acquiring an additional 9,365 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Dover worth $20,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. boosted its position in shares of Dover by 6.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 54,299 shares of the industrial products company's stock valued at $9,523,000 after acquiring an additional 3,434 shares during the last quarter. Sustainable Insight Capital Management LLC boosted its position in shares of Dover by 9.7% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 17,881 shares of the industrial products company's stock valued at $3,141,000 after acquiring an additional 1,581 shares during the last quarter. SouthState Corp purchased a new stake in Dover during the 1st quarter valued at $43,000. Nuveen LLC purchased a new stake in Dover during the 1st quarter valued at $526,081,000. Finally, Virtu Financial LLC purchased a new stake in Dover during the 1st quarter valued at $305,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOV has been the topic of several recent research reports. Citigroup restated a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Royal Bank Of Canada increased their price target 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. increased their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Robert W. Baird increased their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Trading Up 3.3%

DOV stock traded up $5.8150 during midday trading on Friday, reaching $183.2250. The company's stock had a trading volume of 260,261 shares, compared to its average volume of 1,057,728. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a fifty day simple moving average of $182.16 and a two-hundred day simple moving average of $180.99. 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 $25.13 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.42 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 return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $2.36 earnings per share. 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 predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Dover's payout ratio 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.