Dark Forest Capital Management LP Has $7.48 Million Stock Position in Dover Corporation $DOV

Dark Forest Capital Management LP increased its position in shares of Dover Corporation (NYSE:DOV) by 145.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,581 shares of the industrial products company’s stock after buying an additional 25,266 shares during the quarter. Dover comprises about 0.3% of Dark Forest Capital Management LP’s portfolio, making the stock its 19th biggest position. Dark Forest Capital Management LP’s holdings in Dover were worth $7,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DOV. North Capital Inc. acquired a new position in Dover during the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the 1st quarter valued at about $31,000. Truvestments Capital LLC boosted its stake in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 171 shares during the last quarter. Costello Asset Management INC acquired a new position in Dover during the 1st quarter valued at about $35,000. Finally, Orion Capital Management LLC acquired a new position in Dover during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Down 1.5%

DOV opened at $178.89 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.42 and a beta of 1.27. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company’s 50-day moving average price is $182.80 and its two-hundred day moving average price is $179.61.

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, beating analysts’ consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s dividend payout ratio is presently 12.55%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOV shares. Mizuho lifted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Citigroup reiterated a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Finally, Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $213.92.

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.