Valeo Financial Advisors LLC Increases Stake in Dover Corporation $DOV

Valeo Financial Advisors LLC raised its stake in shares of Dover Corporation (NYSE:DOV) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,550 shares of the industrial products company’s stock after buying an additional 123 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Dover were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in DOV. Nuveen LLC purchased a new stake in Dover during the 1st quarter valued at approximately $526,081,000. Assenagon Asset Management S.A. grew its holdings in shares of Dover by 350.8% in 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 purchasing an additional 319,319 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after purchasing an additional 268,931 shares in the last quarter. Strs Ohio purchased a new position in shares of Dover in the first quarter valued at $40,148,000. Finally, Auto Owners Insurance Co grew its holdings in shares of Dover by 4,768.6% in 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 in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on DOV. Barclays cut their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada raised their target price on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Wednesday. Finally, Citigroup restated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.42.

Dover Stock Down 1.6%

NYSE:DOV opened at $162.10 on Friday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The stock has a fifty day simple moving average of $173.98 and a 200-day simple moving average of $176.01. 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 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 return on equity of 18.19% and a net margin of 29.29%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $2.36 earnings per share. The business’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. Analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. This is a positive change from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio is 12.55%.

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.