Voya Investment Management LLC Sells 251,203 Shares of Dover Corporation $DOV

Key Points

• Voya Investment Management LLC has decreased its holdings in Dover Corporation by 20.4%, selling 251,203 shares, leaving them with approximately 977,976 shares valued at $171.55 million.
• Dover recently reported earnings for the quarter, with an EPS of $2.44, exceeding analyst estimates, and a revenue of $2.05 billion, representing a 5.2% year-over-year increase.
• The company has announced a quarterly dividend of $0.52, reflecting a 1.2% yield and maintaining a dividend payout ratio of 12.55%.

Voya Investment Management LLC decreased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 20.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 977,976 shares of the industrial products company's stock after selling 251,203 shares during the period. Voya Investment Management LLC owned approximately 0.71% of Dover worth $171,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DOV. Nuveen LLC bought a new stake in shares of Dover during the 1st quarter valued at $526,081,000. GAMMA Investing LLC raised its position in shares of Dover by 35,832.0% during the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after acquiring an additional 561,487 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Dover by 350.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after acquiring an additional 319,319 shares during the last quarter. Woodline Partners LP raised its position in shares of Dover by 352.9% during the 4th quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock valued at $72,260,000 after acquiring an additional 300,124 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after acquiring an additional 268,931 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. Royal Bank Of Canada upped their target price 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. Mizuho upped their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. 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. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, Robert W. Baird boosted their price target on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Price Performance

Shares of DOV stock opened at $178.10 on Friday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. 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 firm has a fifty day moving average of $181.62 and a 200-day moving average of $178.47.

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 for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during 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 company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is currently 12.55%.

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.

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