Two Point Capital Management Inc. Buys New Shares in Dover Corporation $DOV

Two Point Capital Management Inc. purchased a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel.com reports. The fund purchased 29,953 shares of the industrial products company’s stock, valued at approximately $5,488,000. Dover accounts for 2.3% of Two Point Capital Management Inc.’s portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. North Capital Inc. acquired a new stake in shares of Dover during the 1st quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover during the first quarter valued at about $31,000. Truvestments Capital LLC raised its holdings in shares of Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 171 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in shares of Dover in the 2nd quarter valued at about $33,000. Finally, Costello Asset Management INC purchased a new stake in shares of Dover during the 1st quarter worth about $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 0.1%

DOV opened at $166.49 on Friday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market capitalization of $22.83 billion, a PE ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. The firm’s fifty day moving average price is $175.86 and its 200 day moving average price is $176.59.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $2.36 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 12.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DOV shares. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Wells Fargo & Company increased 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. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Royal Bank Of Canada boosted their price target on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.67.

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.