Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Dover Corporation (NYSE:DOV – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 506,103 shares of the industrial products company’s stock, valued at approximately $113,509,000.
Several other institutional investors also recently made changes to their positions in DOV. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Dover by 3.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock worth $42,845,000 after purchasing an additional 7,396 shares during the period. Leeward Investments LLC MA grew its holdings in shares of Dover by 22.2% during the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock worth $11,160,000 after purchasing an additional 10,377 shares during the period. Independent Financial Group LLC acquired a new stake in Dover during the 1st quarter worth approximately $1,367,000. Tredje AP fonden increased its position in Dover by 5.4% during the 4th quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company’s stock worth $33,590,000 after purchasing an additional 8,774 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Dover by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 315,504 shares of the industrial products company’s stock valued at $61,760,000 after buying an additional 15,361 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on DOV. Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Morgan Stanley raised their target price on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Seaport Research Partners lifted their target price on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada decreased their price target 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. Finally, BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.
Dover Trading Up 0.0%
DOV opened at $207.08 on Monday. The firm has a market capitalization of $27.89 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.57 and a beta of 1.16. The firm’s 50 day moving average is $214.14 and its 200-day moving average is $215.74. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.
Dover (NYSE:DOV – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.02. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.Dover’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.
Dover Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.525 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Dover’s dividend payout ratio is 25.06%.
Dover Company 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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