Haverford Trust Co bought a new stake in shares of Dover Corporation (NYSE:DOV – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,931 shares of the industrial products company’s stock, valued at approximately $1,106,000.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Dover during the 2nd quarter worth approximately $2,347,134,000. Bank of New York Mellon Corp bought a new position in Dover in the 2nd quarter valued at $591,207,000. First Trust Advisors LP grew its position in Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after acquiring an additional 1,612,159 shares during the last quarter. Norges Bank purchased a new stake in Dover in the fourth quarter worth $275,907,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of Dover during the fourth quarter worth $151,473,000. Institutional investors own 84.46% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on DOV shares. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Wolfe Research restated an “outperform” rating and issued a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Morgan Stanley raised their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Finally, Seaport Research Partners lifted their price target on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and an average target price of $238.29.
Dover Stock Performance
Shares of Dover stock opened at $201.96 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $212.68 and its 200-day moving average price is $215.61. The firm has a market cap of $27.20 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.53 and a beta of 1.16. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54.
Dover (NYSE:DOV – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts expect that Dover Corporation will post 10.67 earnings per share for the current fiscal year.
Dover Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 25.06%.
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.
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