Scientech Research LLC Purchases New Position in Dover Corporation $DOV

Scientech Research LLC bought a new position in shares of Dover Corporation (NYSE:DOV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,045 shares of the industrial products company's stock, valued at approximately $886,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC grew its stake in shares of Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after purchasing an additional 1,740 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock worth $2,227,000 after purchasing an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after purchasing an additional 187 shares during the last quarter. Heartland Bank & Trust Co bought a new stake in shares of Dover in the first quarter worth $739,000. Finally, Hsbc Holdings PLC grew its stake in shares of Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. Royal Bank Of Canada boosted their price objective 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. Barclays boosted their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, Citigroup restated a "buy" rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Down 2.8%

Shares of DOV stock traded down $4.95 on Friday, reaching $173.15. 1,133,052 shares of the company were exchanged, compared to its average volume of 817,281. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.42 and a beta of 1.27. The company has a 50-day moving average of $181.34 and a 200-day moving average of $178.16. 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 one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released 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. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Analysts anticipate 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 12.55%.

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.