Versor Investments LP Reduces Stock Position in Dover Corporation $DOV

Key Points

• Versor Investments LP has reduced its stake in Dover Corporation by 36.2% during the first quarter, selling 1,965 shares and retaining 3,457 shares valued at approximately $607,000.
• Several large investors have recently increased their positions in Dover, including American Century Companies Inc., which boosted its stake by 9.4%, now holding 832,542 shares valued at $146 million.
• Dover reported a quarterly EPS of $2.44, exceeding estimates, and announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.2%.

Versor Investments LP cut its position in Dover Corporation (NYSE:DOV - Free Report) by 36.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,457 shares of the industrial products company's stock after selling 1,965 shares during the quarter. Versor Investments LP's holdings in Dover were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mill Creek Capital Advisors LLC purchased a new stake in Dover in the 1st quarter worth approximately $569,000. Raymond James Financial Inc. lifted its stake in Dover by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 171,766 shares of the industrial products company's stock worth $30,176,000 after purchasing an additional 7,903 shares in the last quarter. American Century Companies Inc. lifted its stake in Dover by 9.4% in the 1st quarter. American Century Companies Inc. now owns 832,542 shares of the industrial products company's stock worth $146,261,000 after purchasing an additional 71,196 shares in the last quarter. Element Capital Management LLC purchased a new stake in Dover in the 1st quarter worth approximately $2,629,000. Finally, Aberdeen Group plc increased its holdings in shares of Dover by 148.4% in the 1st quarter. Aberdeen Group plc now owns 119,687 shares of the industrial products company's stock worth $20,775,000 after buying an additional 71,496 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOV shares. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. 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. Robert W. Baird increased their price target on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Mizuho increased their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Trading Down 0.5%

Shares of DOV stock traded down $0.8240 on Monday, hitting $182.2460. 116,331 shares of the company's stock traded hands, compared to its average volume of 1,056,974. 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 fifty day simple moving average is $182.29 and its 200 day simple moving average is $180.52. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.46 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 12.42%.

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.