Quantum Portfolio Management LLC Acquires 3,409 Shares of Dover Corporation $DOV

Quantum Portfolio Management LLC increased its holdings in shares of Dover Corporation (NYSE:DOV) by 55.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,530 shares of the industrial products company’s stock after acquiring an additional 3,409 shares during the quarter. Quantum Portfolio Management LLC’s holdings in Dover were worth $1,590,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in shares of Dover during the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC grew its position in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares in the last quarter. Caldwell Trust Co bought a new position in Dover during the 2nd quarter worth $31,000. Harbour Investments Inc. raised its holdings in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new stake in shares of Dover during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $206.75 on Monday. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The company has a market cap of $28.36 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.44 and a beta of 1.31. The firm has a 50 day simple moving average of $193.32 and a 200 day simple moving average of $182.69.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.12. Dover had a net margin of 28.37% and a return on equity of 17.62%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business earned $2.27 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. Research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president directly owned 72,968 shares in the company, valued at $13,922,294.40. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird set a $235.00 target price on shares of Dover in a report on Friday, October 24th. Barclays upped their price target on shares of Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Oppenheimer lifted their price objective on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Finally, Citigroup restated a “buy” rating on shares of Dover in a research note on Monday, January 12th. Seven investment 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, Dover has a consensus rating of “Moderate Buy” and an average target price of $218.09.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.