Strs Ohio Acquires New Shares in Dover Corporation $DOV

Key Points

• Strs Ohio has invested approximately $40.1 million in Dover Corporation by purchasing 228,529 shares, representing about 0.17% of the company.
• Several analysts have increased their price targets for Dover, with Mizuho setting an "outperform" rating and a new target of $225, reflecting strong market confidence.
• Dover Corporation has announced a quarterly dividend of $0.52, which represents an annualized dividend yield of 1.2%, showing a positive trend in shareholder returns.

Strs Ohio purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 228,529 shares of the industrial products company's stock, valued at approximately $40,148,000. Strs Ohio owned approximately 0.17% of Dover as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. acquired a new position in Dover in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover during the 1st quarter worth approximately $31,000. Truvestments Capital LLC increased its stake 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 in the last quarter. Costello Asset Management INC acquired a new stake in shares of Dover during the first quarter worth $35,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Dover during the first quarter worth $35,000. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Shares of DOV stock traded up $1.26 during trading on Wednesday, reaching $173.83. 152,573 shares of the company's stock were exchanged, compared to its average volume of 1,039,797. 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 stock has a market capitalization of $23.84 billion, a PE ratio of 10.48, a PEG ratio of 1.37 and a beta of 1.27. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The firm's fifty day moving average price is $180.72 and its 200-day moving average price is $177.81.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Mizuho boosted 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. Robert W. Baird upped their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Barclays upped their price target on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up previously 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average target price of $213.92.

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.