Farther Finance Advisors LLC Grows Stake in Dover Corporation $DOV

Farther Finance Advisors LLC increased its position in shares of Dover Corporation (NYSE:DOV) by 38.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 827 shares of the industrial products company’s stock after buying an additional 228 shares during the quarter. Farther Finance Advisors LLC’s holdings in Dover were worth $152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wedge Capital Management L L P NC grew its stake in shares of Dover by 0.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 86,245 shares of the industrial products company’s stock valued at $15,803,000 after purchasing an additional 608 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of Dover by 16.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 3,548 shares of the industrial products company’s stock valued at $650,000 after buying an additional 501 shares during the period. Brendel Financial Advisors LLC lifted its holdings in shares of Dover by 1.5% in the 2nd quarter. Brendel Financial Advisors LLC now owns 22,560 shares of the industrial products company’s stock valued at $4,134,000 after buying an additional 338 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Dover by 20.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 31,886 shares of the industrial products company’s stock valued at $5,840,000 after buying an additional 5,500 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Dover in the 2nd quarter valued at approximately $6,370,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

NYSE DOV opened at $166.49 on Friday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The business has a fifty day moving average of $175.86 and a 200-day moving average of $176.59. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on DOV. Citigroup reissued a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Royal Bank Of Canada lifted their price objective on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company lifted their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $213.67.

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.