Fortitude Advisory Group L.L.C. Purchases Shares of 1,156 Dover Corporation $DOV

Fortitude Advisory Group L.L.C. acquired a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,156 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other hedge funds have also modified their holdings of DOV. North Capital Inc. purchased a new stake in shares of Dover during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the 1st quarter worth approximately $31,000. Truvestments Capital LLC raised its holdings in shares of 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 acquiring an additional 171 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Dover during the 2nd quarter worth approximately $33,000. Finally, Costello Asset Management INC purchased a new stake in shares of Dover during the 1st quarter worth approximately $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on DOV shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a report on Saturday, September 27th. Wells Fargo & Company raised their price objective on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. Robert W. Baird raised their price objective on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Citigroup reaffirmed a “buy” rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. 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. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $213.67.

Dover Trading Down 0.1%

Shares of NYSE DOV opened at $166.54 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The business’s 50 day moving average price is $175.46 and its 200-day moving average price is $176.46. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.33 and a beta of 1.26.

Dover (NYSE:DOV) last issued its quarterly 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 the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $2.36 earnings per share. The company’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, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 12.55%.

Dover 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.