Strs Ohio Makes New Investment in Dover Corporation $DOV

Strs Ohio purchased a new position in shares of Dover Corporation (NYSE:DOV) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 228,529 shares of the industrial products company’s stock, valued at approximately $40,148,000. Strs Ohio owned about 0.17% of Dover as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock worth $349,000 after buying an additional 1,740 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dover by 10.1% during 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 buying an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock worth $106,000 after buying an additional 187 shares during the last quarter. Heartland Bank & Trust Co bought a new position in Dover during the first quarter valued at about $739,000. Finally, Hsbc Holdings PLC increased its stake in Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on DOV. Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Citigroup restated a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird upped 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. Finally, Barclays upped their target price on Dover from $185.00 to $193.00 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 given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $213.92.

Dover Stock Up 1.4%

NYSE DOV opened at $178.10 on Friday. The firm has a market cap of $24.42 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock’s 50 day simple moving average is $181.62 and its 200 day simple moving average is $178.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $2.36 EPS. Dover’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 forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover’s dividend payout ratio 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.