Investment Research & Advisory Group Inc. Invests $33,000 in Dover Corporation $DOV

Investment Research & Advisory Group Inc. purchased a new position in Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel reports. The institutional investor purchased 182 shares of the industrial products company’s stock, valued at approximately $33,000.

Several other institutional investors also recently made changes to their positions in DOV. North Capital Inc. acquired a new position in Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover in the 1st quarter valued at about $31,000. Truvestments Capital LLC increased its position in Dover by 1,005.9% during 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 in the last quarter. Costello Asset Management INC purchased a new position in Dover in the first quarter valued at approximately $35,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Dover in the 1st quarter valued at $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

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

Dover (NYSE:DOV) last issued 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $2.36 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently disclosed 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 is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s payout ratio is presently 12.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DOV shares. Citigroup reissued a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays lifted their price target on shares of Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Robert W. Baird raised their target price on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company increased their target price on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $213.92.

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.