Acadian Asset Management LLC Has $6.01 Million Stock Holdings in Dover Corporation $DOV

Acadian Asset Management LLC grew its stake in shares of Dover Corporation (NYSE:DOV) by 1,034.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,237 shares of the industrial products company’s stock after acquiring an additional 31,219 shares during the period. Acadian Asset Management LLC’s holdings in Dover were worth $6,012,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DOV. Nuveen LLC acquired a new stake in Dover during the first quarter worth approximately $526,081,000. GAMMA Investing LLC raised its position in Dover by 35,832.0% during the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company’s stock valued at $98,917,000 after purchasing an additional 561,487 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Dover by 350.8% during the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock worth $72,090,000 after buying an additional 319,319 shares during the last quarter. Woodline Partners LP grew its stake in shares of Dover by 352.9% during the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company’s stock worth $72,260,000 after buying an additional 300,124 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after buying an additional 268,931 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. Royal Bank Of Canada boosted their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Robert W. Baird upped their price target on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Barclays upped their price objective on shares of Dover from $185.00 to $193.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Mizuho upped their target price on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.92.

Dover Stock Down 2.8%

DOV opened at $173.15 on Friday. The company has a 50 day moving average of $181.34 and a 200 day moving average of $178.16. The company has a market cap of $23.74 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. Dover Corporation has a 12 month low of $143.04 and a 12 month 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 released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.39 by $0.05. The company 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%. Dover’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.36 EPS. 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 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover’s dividend payout ratio (DPR) is presently 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.