Virtu Financial LLC Invests $305,000 in Dover Corporation $DOV

Key Points

• Virtu Financial LLC made a new investment in Dover Corporation, acquiring 1,736 shares valued at approximately $305,000 during the 1st quarter.
• Analysts have raised price targets for Dover, with Barclays setting a new target of $193.00 and Citigroup increasing theirs to $226.00, reflecting a generally positive outlook.
• Dover announced a quarterly dividend of $0.52, marking a continuous return to shareholders with a yield of 1.2%, and a growing dividend payout ratio of 12.42%.

Virtu Financial LLC bought a new position in Dover Corporation (NYSE:DOV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,736 shares of the industrial products company's stock, valued at approximately $305,000.

Several other hedge funds also recently bought and sold shares of DOV. Golden State Wealth Management LLC boosted its stake in Dover by 707.3% during 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 during the period. Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $2,227,000 after acquiring an additional 1,160 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after acquiring an additional 187 shares during the period. Heartland Bank & Trust Co bought a new stake in shares of Dover in the 1st quarter worth approximately $739,000. Finally, GAMMA Investing LLC lifted its position in shares of Dover by 104.5% in the 1st quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock worth $563,000 after acquiring an additional 1,638 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOV has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company raised 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. Barclays raised their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Citigroup reiterated a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Up 1.4%

Shares of Dover stock traded up $2.4080 during trading on Tuesday, reaching $179.5580. The stock had a trading volume of 1,379,010 shares, compared to its average volume of 1,065,522. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.41 and a beta of 1.26. The stock has a fifty day moving average price of $182.23 and a two-hundred day moving average price of $181.19. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. 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 (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, beating analysts' consensus estimates 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 return on equity of 18.19% and a net margin of 29.29%.The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio is presently 12.42%.

About Dover

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.