Barrett & Company Inc. Purchases 245 Shares of Dover Corporation $DOV

Barrett & Company Inc. increased its position in Dover Corporation (NYSE:DOV) by 62.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 635 shares of the industrial products company’s stock after purchasing an additional 245 shares during the quarter. Barrett & Company Inc.’s holdings in Dover were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Two Point Capital Management Inc. bought a new stake in shares of Dover in the 2nd quarter valued at about $5,488,000. Ameritas Advisory Services LLC bought a new stake in shares of Dover in the 2nd quarter valued at about $37,000. Hudson Edge Investment Partners Inc. raised its holdings in shares of Dover by 7.5% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 35,977 shares of the industrial products company’s stock valued at $6,592,000 after purchasing an additional 2,500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Dover by 10.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,312 shares of the industrial products company’s stock valued at $4,271,000 after acquiring an additional 2,256 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its holdings in Dover by 6.7% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 48,683 shares of the industrial products company’s stock valued at $8,920,000 after acquiring an additional 3,042 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

NYSE DOV opened at $166.54 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. The firm’s 50 day simple moving average is $175.46 and its 200 day simple moving average is $176.50. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is 12.55%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Saturday, September 27th. Robert W. Baird increased their price target on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, July 25th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $213.67.

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.