Y Intercept Hong Kong Ltd Makes New Investment in Dover Corporation $DOV

Key Points

• Y Intercept Hong Kong Ltd initiated a new position in Dover, buying 9,406 shares valued at about $1.96 million in the first quarter.
• Dover reported Q1 earnings of $2.28 per share, slightly above expectations, while revenue came in at $2.05 billion, below analysts’ forecast but still up 10.1% year over year.
• The company paid a quarterly dividend of $0.52 per share and now offers an annualized dividend of $2.08, reflecting a 1.0% yield and a payout ratio of 25.94%.

Y Intercept Hong Kong Ltd bought a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,406 shares of the industrial products company's stock, valued at approximately $1,961,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. Wealth Enhancement Advisory Services LLC grew its stake in shares of Dover by 15.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,470 shares of the industrial products company's stock worth $8,442,000 after acquiring an additional 5,514 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Dover in the 4th quarter worth about $10,195,000. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock worth $42,845,000 after purchasing an additional 7,396 shares in the last quarter. Pensionfund Sabic purchased a new stake in Dover during the 4th quarter valued at about $1,230,000. Finally, BIP Wealth LLC bought a new stake in Dover during the 4th quarter valued at about $538,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of NYSE DOV opened at $211.32 on Thursday. The firm's 50-day moving average price is $217.59 and its 200-day moving average price is $214.41. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The company has a market cap of $28.46 billion, a PE ratio of 26.35, a PEG ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, analysts anticipate that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover's dividend payout ratio (DPR) is 25.94%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several analyst reports. Weiss Ratings downgraded shares of Dover from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Seaport Research Partners raised their price target on shares of Dover from $245.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Robert W. Baird boosted their price objective on shares of Dover from $255.00 to $279.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Barclays upped their price objective on Dover from $206.00 to $230.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research note on Sunday, June 7th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average target price of $239.85.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover's activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.

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