Inspire Investing LLC Raises Position in Dover Corporation $DOV

Inspire Investing LLC increased its holdings in Dover Corporation (NYSE:DOV) by 8.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 14,640 shares of the industrial products company’s stock after acquiring an additional 1,170 shares during the quarter. Inspire Investing LLC’s holdings in Dover were worth $2,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOV. North Capital Inc. purchased a new stake in shares of Dover in the first quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the first quarter worth $31,000. Truvestments Capital LLC raised its position in shares of Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Dover in the first quarter worth $35,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Dover in the first quarter worth $35,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research 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 research report on Monday, July 28th. Citigroup restated a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Mizuho raised their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, 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 research report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $213.92.

Dover Stock Up 1.4%

Shares of NYSE:DOV opened at $178.10 on Friday. The stock’s 50-day moving average price is $181.62 and its 200-day moving average price is $178.47. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The stock has a market capitalization of $24.42 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. 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) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm earned $2.36 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, August 29th. Dover’s payout ratio is 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.