Bank of New York Mellon Corp lifted its holdings in Dover Corporation (NYSE:DOV – Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,030,972 shares of the industrial products company’s stock after acquiring an additional 150,319 shares during the period. Bank of New York Mellon Corp’s holdings in Dover were worth $631,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Reflection Asset Management acquired a new position in Dover in the fourth quarter valued at approximately $26,000. MV Capital Management Inc. bought a new position in shares of Dover during the 4th quarter worth approximately $29,000. Tompkins Financial Corp grew its position in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after buying an additional 77 shares during the period. Finally, Financial Life Planners acquired a new stake in shares of Dover during the 1st quarter worth approximately $31,000. Institutional investors own 84.46% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on DOV shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $252.00 target price on shares of Dover in a research report on Friday, April 24th. Oppenheimer raised their price target on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. BMO Capital Markets lifted their price target on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Robert W. Baird upped their price objective on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of Dover in a research report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.43.
Dover Stock Up 2.5%
Shares of NYSE DOV opened at $217.49 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The company has a 50-day moving average price of $216.41 and a 200-day moving average price of $215.05. The stock has a market capitalization of $29.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.61 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54.
Dover (NYSE:DOV – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.01. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities research analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.
Dover Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover’s dividend payout ratio (DPR) is currently 25.94%.
Dover Profile
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.
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