Two Point Capital Management Inc. Takes Position in Dover Corporation $DOV

Key Points

• Two Point Capital Management Inc. acquired 29,953 shares of Dover Corporation, making up 2.3% of its investment portfolio and valued at approximately $5,488,000.
• Dover Corporation reported earnings per share of $2.44 for the last quarter, exceeding analysts' expectations, with a revenue increase of 5.2% year-over-year.
• The company recently announced a quarterly dividend of $0.52 per share, an increase from its previous dividend, resulting in a yield of 1.2%.

Two Point Capital Management Inc. acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,953 shares of the industrial products company's stock, valued at approximately $5,488,000. Dover accounts for 2.3% of Two Point Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings 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 valued at $349,000 after purchasing an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC grew its position in Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after buying an additional 187 shares during the period. Heartland Bank & Trust Co purchased a new position in Dover during the 1st quarter worth $739,000. Finally, Hsbc Holdings PLC boosted its holdings 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 valued at $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of NYSE DOV opened at $166.49 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26. The company's 50-day moving average price is $175.86 and its 200 day moving average price is $176.59. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31.

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, 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 business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the company posted $2.36 EPS. The company'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. As a group, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOV. Royal Bank Of Canada increased their price target 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. Citigroup reissued a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Wells Fargo & Company increased their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird raised their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $213.67.

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.

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