Trexquant Investment LP Invests $6.04 Million in Dover Corporation $DOV

Key Points

• Trexquant Investment LP acquired a significant stake in Dover Corporation, purchasing 34,366 shares valued at approximately $6,037,000, reflecting continued interest from institutional investors in the company.
• Dover recently increased its quarterly dividend to $0.52, which represents an annualized dividend of $2.08, with a yield of 1.2% and a payout ratio of 12.55%.
• Analysts maintain a positive outlook for Dover, with several brokerages raising their price targets and the stock holding a consensus rating of "Moderate Buy" with an average price target of $213.92.

Trexquant Investment LP bought a new position in Dover Corporation (NYSE:DOV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 34,366 shares of the industrial products company's stock, valued at approximately $6,037,000.

A number of other institutional investors have also added to or reduced their stakes in DOV. Brighton Jones LLC increased its stake in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after acquiring an additional 1,128 shares during the last quarter. Lido Advisors LLC increased its stake in Dover by 1.4% in 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. AQR Capital Management LLC increased its stake in Dover by 117.0% in the 4th quarter. AQR Capital Management LLC now owns 117,099 shares of the industrial products company's stock worth $21,887,000 after acquiring an additional 63,138 shares during the last quarter. Comerica Bank increased its stake in Dover by 12.3% in the 4th quarter. Comerica Bank now owns 45,957 shares of the industrial products company's stock worth $8,621,000 after acquiring an additional 5,038 shares during the last quarter. Finally, Ancora Advisors LLC increased its stake in Dover by 53.2% in the 4th quarter. Ancora Advisors LLC now owns 3,503 shares of the industrial products company's stock worth $657,000 after acquiring an additional 1,216 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Up 2.1%

DOV stock traded up $3.61 during trading on Thursday, hitting $178.34. 771,554 shares of the company traded hands, compared to its average volume of 1,048,894. The firm has a market capitalization of $24.46 billion, a PE ratio of 10.76, a P/E/G ratio of 1.42 and a beta of 1.27. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a 50-day moving average of $182.60 and a 200-day moving average of $179.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the business posted $2.36 EPS. The business's revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio (DPR) is 12.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company upped their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Citigroup reiterated a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Barclays upped their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Company 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.