UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 19,387 Shares of 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 Dover Corporation (NYSE:DOV - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 983,375 shares of the industrial products company's stock after buying an additional 19,387 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.72% of Dover worth $172,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Capital Inc. bought a new position in shares of Dover during the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the first quarter worth approximately $31,000. Truvestments Capital LLC boosted its position 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 buying an additional 171 shares during the period. Costello Asset Management INC acquired a new position in shares of Dover during the first quarter worth approximately $35,000. Finally, Orion Capital Management LLC acquired a new position in shares of Dover during the fourth quarter worth approximately $43,000. 84.46% of the stock is owned by institutional investors.

Dover Stock Up 0.9%

NYSE:DOV traded up $1.54 during trading hours on Wednesday, hitting $174.11. 124,283 shares of the stock traded hands, compared to its average volume of 1,039,570. The firm has a 50 day moving average price of $180.72 and a 200 day moving average price of $177.81. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. 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 cap of $23.88 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.37 and a beta of 1.27.

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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $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. Equities research analysts anticipate 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Dover's dividend payout ratio (DPR) is 12.55%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOV shares. JPMorgan Chase & Co. boosted their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup restated a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays upped their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Mizuho upped their target price on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price 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.