Dover Corporation $DOV Position Lifted by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its stake in shares of Dover Corporation (NYSE:DOV) by 2.3% during the second quarter, HoldingsChannel reports. The fund owned 6,782 shares of the industrial products company’s stock after acquiring an additional 150 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Dover were worth $1,243,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in DOV. North Capital Inc. bought a new position in Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in Dover during the 1st quarter valued at $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 acquiring an additional 171 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in Dover during the 2nd quarter valued at $33,000. Finally, Costello Asset Management INC bought a new position in Dover during the 1st quarter valued at $35,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Mizuho raised their price target on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Barclays raised their price target on shares of Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Robert W. Baird raised their price target on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their price target on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Seven 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.92.

Dover Stock Up 1.5%

DOV stock opened at $168.14 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm’s 50-day simple moving average is $177.62 and its 200 day simple moving average is $176.95. The stock has a market cap of $23.06 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $2.36 EPS. 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. As a group, sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend 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.