United Services Automobile Association acquired a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,960 shares of the industrial products company's stock, valued at approximately $517,000.
Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Dover by 707.3% in the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co acquired a new stake in Dover in the 1st quarter valued at $739,000. Finally, Hsbc Holdings PLC increased its holdings in Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after purchasing an additional 268,931 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Dover Stock Performance
Shares of DOV stock opened at $175.66 on Thursday. 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 Corporation has a one year low of $143.04 and a one year high of $222.31. The company's 50-day simple moving average is $181.80 and its 200-day simple moving average is $178.61. The stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.39 and a beta of 1.27.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping 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 business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company posted $2.36 earnings per share. The company'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. Equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.
Dover Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Dover's dividend payout ratio is 12.55%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Barclays upped their price objective on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research 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 company. According to MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.
Check Out Our Latest Analysis on DOV
About Dover
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV - Free Report).
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