Fifth Third Bancorp lifted its holdings in shares of Dover Corporation (NYSE:DOV – Free Report) by 128.6% during the first quarter, Holdings Channel.com reports. The fund owned 72,715 shares of the industrial products company’s stock after acquiring an additional 40,913 shares during the period. Fifth Third Bancorp’s holdings in Dover were worth $15,157,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of DOV. Bank of New York Mellon Corp raised its position in shares of Dover by 174.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after purchasing an additional 1,830,722 shares during the last quarter. First Trust Advisors LP increased its stake in Dover by 179.7% during 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 purchasing an additional 1,612,159 shares in the last quarter. Norges Bank purchased a new position in shares of Dover in the fourth quarter worth $275,907,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Dover in the fourth quarter worth $151,473,000. Finally, Auto Owners Insurance Co lifted its stake in shares of Dover by 19,424.0% during the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after buying an additional 757,536 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. BMO Capital Markets boosted their price target on Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Barclays lifted their target price on Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, April 24th. Seaport Research Partners increased their price target on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Oppenheimer raised their price target on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $241.43.
Dover Stock Performance
Shares of DOV stock opened at $214.31 on Wednesday. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $28.86 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The business has a 50-day simple moving average of $216.78 and a 200-day simple moving average of $214.84.
Dover (NYSE:DOV – Get Free Report) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.27 by $0.01. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.Dover’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities analysts expect that Dover Corporation will post 10.65 EPS for the current year.
Dover Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was 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%.
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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