AXQ Capital LP Sells 6,745 Shares of Dover Corporation $DOV

AXQ Capital LP reduced its position in Dover Corporation (NYSE:DOV) by 56.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,099 shares of the industrial products company’s stock after selling 6,745 shares during the period. AXQ Capital LP’s holdings in Dover were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DOV. Norges Bank purchased a new stake in Dover during the 4th quarter valued at $275,907,000. Diamond Hill Capital Management Inc. purchased a new stake in Dover during the 4th quarter valued at $151,473,000. AQR Capital Management LLC raised its stake in Dover by 912.9% during the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after buying an additional 711,471 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Dover by 65.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock valued at $219,846,000 after buying an additional 520,211 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Dover by 16.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after acquiring an additional 294,856 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 2.1%

DOV opened at $211.90 on Wednesday. The firm has a 50-day simple moving average of $214.95 and a two-hundred day simple moving average of $208.55. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The company has a market capitalization of $28.53 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Analysts forecast that Dover Corporation will post 10.62 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 25.94%.

Wall Street Analyst Weigh In

DOV has been the subject of several analyst reports. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday. Seaport Research Partners upped their price objective on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $229.00 price objective on shares of Dover in a research note on Friday, April 24th. Robert W. Baird upped their target price on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Barclays upped their target price on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.36.

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.