Hudson Edge Investment Partners Inc. Boosts Holdings in Dover Corporation $DOV

Hudson Edge Investment Partners Inc. grew its stake in shares of Dover Corporation (NYSE:DOV) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,977 shares of the industrial products company’s stock after purchasing an additional 2,500 shares during the period. Dover makes up 1.1% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 23rd largest holding. Hudson Edge Investment Partners Inc.’s holdings in Dover were worth $6,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. North Capital Inc. purchased a new position in shares of Dover during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the first quarter valued at approximately $31,000. Truvestments Capital LLC grew its stake in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 171 shares during the period. Investment Research & Advisory Group Inc. bought a new position in Dover in the second quarter worth $33,000. Finally, Costello Asset Management INC purchased a new position in Dover during the first quarter valued at $35,000. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV opened at $166.49 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 capitalization of $22.83 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The firm has a 50 day moving average of $175.86 and a 200 day moving average of $176.59. 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 (NYSE:DOV) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover’s payout ratio is 12.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Citigroup reaffirmed a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada lifted 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. Wells Fargo & Company upped their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Finally, Barclays lowered their price objective on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.67.

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.