Corient Private Wealth LP Makes New Investment in Dover Corporation $DOV

Corient Private Wealth LP bought a new stake in Dover Corporation (NYSE:DOV – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 57,770 shares of the industrial products company’s stock, valued at approximately $12,957,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Bank of America Corp DE acquired a new position in Dover during the second quarter worth about $625,375,000. Freestone Grove Partners LP purchased a new stake in Dover during the 2nd quarter valued at about $44,136,000. Caisse de depot et placement du Quebec acquired a new stake in Dover in the 2nd quarter valued at about $584,000. Man Group plc purchased a new position in Dover in the 2nd quarter worth approximately $2,028,000. Finally, Jupiter Topco LLC purchased a new position in Dover in the 2nd quarter worth approximately $10,113,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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Dover Trading Down 1.6%

DOV opened at $198.54 on Friday. The stock has a market capitalization of $26.74 billion, a PE ratio of 23.92, a P/E/G ratio of 1.51 and a beta of 1.16. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The business’s 50 day moving average price is $210.67 and its 200 day moving average price is $215.13.

Dover (NYSE:DOV – Get Free Report) last posted its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities research analysts expect that Dover Corporation will post 10.67 EPS for the current 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 issued a dividend of $0.525 per share. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is currently 25.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DOV shares. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Wolfe Research reiterated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Morgan Stanley boosted their price objective on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Royal Bank Of Canada dropped their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Finally, Robert W. Baird set a $270.00 target price on Dover in a research note on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $238.29.

Get Our Latest Analysis on Dover

Dover Company Profile

(Free Report)

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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