Woodline Partners LP Has $61.98 Million Stake in Dover Corporation $DOV

Key Points

• Woodline Partners LP has reduced its stake in Dover Corporation by 8.4%, now holding approximately 352,780 shares valued at $61.98 million.
• Dover Corporation reported a Q2 EPS of $2.44, slightly exceeding market expectations, and forecasted FY 2025 EPS guidance between 9.350-9.550.
• The company announced a quarterly dividend of $0.52 per share, representing an increase from previous dividends and a yield of 1.2%.

Woodline Partners LP lowered its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 352,780 shares of the industrial products company's stock after selling 32,400 shares during the quarter. Woodline Partners LP owned 0.26% of Dover worth $61,976,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DOV. Nuveen LLC bought a new position in Dover during the first quarter valued at about $526,081,000. GAMMA Investing LLC boosted its stake in Dover by 35,832.0% during the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after buying an additional 561,487 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Dover by 350.8% during the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after buying an additional 319,319 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock valued at $107,677,000 after buying an additional 268,931 shares in the last quarter. Finally, Auto Owners Insurance Co lifted its holdings in shares of Dover by 4,768.6% during the first quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company's stock valued at $33,358,000 after purchasing an additional 185,977 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Dover Stock Down 2.8%

Dover stock traded down $4.95 during mid-day trading on Friday, hitting $173.15. The company's stock had a trading volume of 1,133,052 shares, compared to its average volume of 817,281. The firm's 50 day moving average is $181.34 and its 200 day moving average is $178.30. The company has a market cap of $23.74 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The business's revenue for the quarter was up 5.2% on a year-over-year basis. 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, analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. 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 payout ratio is currently 12.55%.

Analyst Ratings Changes

DOV has been the subject of several analyst reports. Mizuho upped their target price 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 target price on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

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.