UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $172.76 Million Stock Position in Dover Corporation $DOV

Key Points

• UBS Asset Management has increased its stake in Dover Corporation to 983,375 shares, a rise of 2.0%, with a total value of approximately $172.76 million.
• Analysts are optimistic about Dover, with multiple firms raising their target prices, resulting in a consensus target price of $213.92 and a rating of "Moderate Buy."
• Dover recently announced a quarterly dividend increase, now at $0.52 per share, reflecting an annualized yield of 1.2% and a dividend payout ratio of 12.55%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 983,375 shares of the industrial products company's stock after purchasing an additional 19,387 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.72% of Dover worth $172,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. American Trust boosted its position in Dover by 0.7% during the first quarter. American Trust now owns 13,976 shares of the industrial products company's stock valued at $2,455,000 after purchasing an additional 91 shares during the last quarter. Empowered Funds LLC boosted its position in Dover by 11.8% during the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company's stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Dean Capital Management raised its holdings in Dover by 2.2% during the first quarter. Dean Capital Management now owns 10,733 shares of the industrial products company's stock valued at $1,886,000 after buying an additional 226 shares in the last quarter. MBB Public Markets I LLC bought a new position in Dover during the first quarter valued at about $306,000. Finally, United Services Automobile Association bought a new position in Dover during the first quarter valued at about $517,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup restated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Mizuho raised their target price 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 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. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Trading Up 1.4%

Dover stock opened at $178.10 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The business's 50-day simple moving average is $181.62 and its 200-day simple moving average is $178.47. The firm has a market capitalization of $24.42 billion, a PE ratio of 10.74, a PEG ratio of 1.40 and a beta of 1.27. 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 posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $2.36 earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

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.

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