UniSuper Management Pty Ltd Increases Position in Dover Corporation $DOV

Key Points

• UniSuper Management Pty Ltd increased its position in Dover Corporation by 141.8% during the first quarter, now holding 34,679 shares valued at approximately $6.09 million.
• Dover recently reported earnings of $2.44 per share, exceeding analyst expectations, and set a guidance of $9.350-9.550 EPS for FY 2025.
• The company declared a quarterly dividend of $0.52 per share, resulting in an annualized payout of $2.08, with a current yield of 1.2%.

UniSuper Management Pty Ltd lifted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 141.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,679 shares of the industrial products company's stock after acquiring an additional 20,336 shares during the quarter. UniSuper Management Pty Ltd's holdings in Dover were worth $6,092,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Dover by 0.7% during the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after acquiring an additional 106,679 shares during the last quarter. Nuveen LLC acquired a new position in Dover in the first quarter worth about $526,081,000. Invesco Ltd. grew its stake in Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock worth $223,586,000 after purchasing an additional 93,483 shares in the last quarter. ProShare Advisors LLC grew its stake in Dover by 1.4% in the fourth quarter. ProShare Advisors LLC now owns 1,034,790 shares of the industrial products company's stock worth $194,127,000 after purchasing an additional 14,202 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock worth $147,680,000 after purchasing an additional 12,518 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Citigroup reiterated a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Barclays lifted their price target on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

Shares of DOV stock opened at $177.74 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $182.39 and a two-hundred day moving average of $178.82. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market cap of $24.37 billion, a P/E ratio of 10.72, a PEG ratio of 1.42 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. Dover's quarterly revenue was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend 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 is presently 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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