Lecap Asset Management Ltd. Has $2.61 Million Stock Holdings in Dover Corporation $DOV

Lecap Asset Management Ltd. decreased its holdings in shares of Dover Corporation (NYSE:DOV) by 33.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,240 shares of the industrial products company’s stock after selling 7,199 shares during the period. Dover accounts for about 0.9% of Lecap Asset Management Ltd.’s portfolio, making the stock its 16th biggest position. Lecap Asset Management Ltd.’s holdings in Dover were worth $2,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC boosted its holdings in Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock worth $2,227,000 after acquiring an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 187 shares in the last quarter. Heartland Bank & Trust Co bought a new position in Dover in the first quarter worth approximately $739,000. Finally, Hsbc Holdings PLC boosted its holdings in Dover by 77.9% in the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after acquiring an additional 268,931 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $166.38 on Thursday. 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 business has a fifty day simple moving average of $176.26 and a two-hundred day simple moving average of $176.71. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a market capitalization of $22.82 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business posted $2.36 earnings per share. The business’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. On average, analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Dover’s dividend payout ratio is 12.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DOV shares. Wells Fargo & Company raised their target price on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report 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 report on Friday, July 25th. Citigroup restated a “buy” rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $213.67.

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.