Trexquant Investment LP Purchases New Shares in Dover Corporation $DOV

Trexquant Investment LP purchased a new stake in Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,366 shares of the industrial products company's stock, valued at approximately $6,037,000.

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A number of other institutional investors have also made changes to their positions in DOV. Nuveen LLC bought a new position in shares of Dover in the first quarter valued at about $526,081,000. GAMMA Investing LLC raised its holdings in shares of Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after buying an additional 561,487 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Dover in the fourth quarter valued at about $99,017,000. Assenagon Asset Management S.A. raised its holdings in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after buying an additional 319,319 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Dover by 352.9% in the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock valued at $72,260,000 after buying an additional 300,124 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $178.89 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market cap of $24.53 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The stock has a 50-day moving average of $182.78 and a 200-day moving average of $179.77. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

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Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.Dover's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date is Friday, August 29th. 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. Dover's payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

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Several brokerages have weighed in on DOV. Citigroup reissued a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird boosted 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. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada boosted 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, JPMorgan Chase & Co. boosted 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. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.92.

Read Our Latest Report on DOV

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.

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