Hanson & Doremus Investment Management Increases Position in Dover Corporation $DOV

Hanson & Doremus Investment Management lifted its position in shares of Dover Corporation (NYSE:DOV) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,782 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Hanson & Doremus Investment Management’s holdings in Dover were worth $1,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. North Capital Inc. acquired a new position in Dover during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the first quarter worth approximately $31,000. Investment Research & Advisory Group Inc. acquired a new position in Dover during the second quarter worth approximately $33,000. Truvestments Capital LLC increased its position in Dover by 1,005.9% during 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 last quarter. Finally, Costello Asset Management INC acquired a new position in Dover during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on DOV. JPMorgan Chase & Co. upped their price target on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Citigroup reaffirmed a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Royal Bank Of Canada upped their price target on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Mizuho increased 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 increased 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. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $213.92.

Dover Price Performance

Shares of DOV stock opened at $168.14 on Monday. The company has a market capitalization of $23.06 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27. The firm has a fifty day simple moving average of $177.62 and a 200-day simple moving average of $176.95. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. 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 was Friday, August 29th. Dover’s payout ratio is currently 12.55%.

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.