Texas Capital Bank Wealth Management Services Inc Makes New $308,000 Investment in Dover Corporation $DOV

Key Points

• Texas Capital Bank Wealth Management Services Inc has made a new $308,000 investment in Dover Corporation by acquiring 1,753 shares, reflecting growing institutional interest in the company.
• Dover Corporation recently reported earnings of $2.44 per share, exceeding expectations, with a 5.2% revenue increase year-over-year, indicating a strong financial performance.
• The company announced a quarterly dividend of $0.52 per share, to be paid on September 15th, maintaining a solid payout ratio of 12.42% and improving its dividend yield to 1.2%.

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,753 shares of the industrial products company's stock, valued at approximately $308,000.

A number of other large investors have also recently bought and sold shares of DOV. Fifth Third Wealth Advisors LLC increased its holdings in shares of Dover by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after buying an additional 67 shares in the last quarter. Lido Advisors LLC grew its position in Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after acquiring an additional 69 shares during the last quarter. Colonial Trust Co SC increased its holdings in Dover by 11.1% during the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 72 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after purchasing an additional 80 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in Dover by 4.8% in the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock worth $322,000 after purchasing an additional 84 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Citigroup restated a "buy" rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Barclays increased their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven 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, the stock has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Trading Up 3.1%

NYSE DOV traded up $5.48 during trading on Friday, reaching $182.89. 1,059,336 shares of the stock traded hands, compared to its average volume of 1,033,277. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. 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 firm has a market cap of $25.08 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. The stock's 50-day moving average price is $182.29 and its 200 day moving average price is $180.85.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly 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 company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm posted $2.36 earnings per share. The business'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. 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 of this dividend 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 presently 12.42%.

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.