Janney Montgomery Scott LLC Raises Holdings in Dover Corporation $DOV

Janney Montgomery Scott LLC grew its position in Dover Corporation (NYSE:DOV) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,346 shares of the industrial products company’s stock after buying an additional 1,962 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Dover were worth $17,654,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of Dover in the 1st quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the 1st quarter worth $31,000. Truvestments Capital LLC lifted its stake in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 171 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Dover during the 2nd quarter worth $33,000. Finally, Costello Asset Management INC purchased a new stake in shares of Dover during the 1st quarter worth $35,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.1%

Shares of DOV stock opened at $166.49 on Friday. The stock’s 50-day simple moving average is $175.86 and its 200-day simple moving average is $176.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The firm has a market capitalization of $22.83 billion, a PE ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.19% and a net margin of 29.29%.The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. This is a boost 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 is currently 12.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DOV shares. Robert W. Baird upped their price objective on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Mizuho upped their price objective on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Barclays decreased their price objective on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price objective on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Seven equities 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, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $213.67.

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.