Teza Capital Management LLC Invests $944,000 in Dover Corporation $DOV

Key Points

• Teza Capital Management LLC acquired a new stake in Dover Corporation, purchasing 5,376 shares worth approximately $944,000 in the first quarter.
• Dover recently reported $2.44 earnings per share (EPS), exceeding estimates, and anticipates FY 2025 EPS guidance of 9.350-9.550.
• The company plans to distribute a quarterly dividend of $0.52 per share on September 15th, maintaining a 1.2% dividend yield.

Teza Capital Management LLC bought a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,376 shares of the industrial products company's stock, valued at approximately $944,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOV. North Capital Inc. acquired a new stake in Dover during the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Dover during the first quarter worth $31,000. Truvestments Capital LLC raised its holdings in shares of Dover by 1,005.9% during 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. Costello Asset Management INC purchased a new position in shares of Dover during the first quarter worth $35,000. Finally, Orion Capital Management LLC purchased a new position in shares of Dover during the fourth quarter worth $43,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

DOV has been the subject of several recent research reports. Royal Bank Of Canada raised their target price on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird raised their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Mizuho raised their price target on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Price Performance

Shares of NYSE DOV traded down $4.30 during trading on Friday, hitting $173.81. The company had a trading volume of 525,091 shares, compared to its average volume of 1,043,228. The stock has a fifty day simple moving average of $181.62 and a two-hundred day simple moving average of $178.47. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.36 earnings per share. The company's revenue for the quarter 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, research analysts expect 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 dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover's dividend payout ratio (DPR) is presently 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.