Investment Research & Advisory Group Inc. Invests $33,000 in Dover Corporation $DOV

Investment Research & Advisory Group Inc. bought a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 182 shares of the industrial products company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOV. Signaturefd LLC lifted its holdings in shares of Dover by 9.9% in the 2nd quarter. Signaturefd LLC now owns 4,196 shares of the industrial products company’s stock valued at $769,000 after purchasing an additional 378 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Dover by 53.4% during the second quarter. ORG Partners LLC now owns 267 shares of the industrial products company’s stock worth $50,000 after buying an additional 93 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Dover in the 2nd quarter valued at about $239,000. Perigon Wealth Management LLC raised its stake in Dover by 8.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 1,619 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 121 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Dover by 31.1% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,905 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 452 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho boosted their target price on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Barclays boosted their price target on shares of Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Citigroup restated a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their price target on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Seven 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.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $213.92.

Dover Price Performance

Shares of NYSE DOV opened at $168.14 on Monday. The company’s 50-day moving average price is $177.62 and its 200 day moving average price is $176.95. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 1.34 and a beta of 1.27. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. 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 (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts forecast 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. Investors of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is presently 12.55%.

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.