Dover Corporation $DOV Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in Dover Corporation (NYSE:DOV) by 34.5% in the 2nd quarter, Holdings Channel reports. The firm owned 123,390 shares of the industrial products company’s stock after purchasing an additional 31,674 shares during the period. QRG Capital Management Inc.’s holdings in Dover were worth $22,609,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in Dover in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover in the first quarter worth $31,000. Truvestments Capital LLC grew its stake in shares of 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 acquiring an additional 171 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Dover in the second quarter worth $33,000. Finally, Costello Asset Management INC acquired a new position in shares of Dover in the first quarter worth $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $166.54 on Friday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market cap of $22.84 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. 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 firm has a fifty day moving average price of $175.46 and a 200 day moving average price of $176.50.

Dover (NYSE:DOV) last announced its quarterly 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. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $2.36 earnings per share. Dover’s quarterly revenue 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 anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a 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 dividend payout ratio is presently 12.55%.

Wall Street Analyst Weigh In

DOV has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Saturday, September 27th. Citigroup restated a “buy” rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays dropped their price target on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday. Mizuho lifted their price objective 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. Finally, Robert W. Baird lifted their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average 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.