NewEdge Wealth LLC bought a new position in shares of Dover Corporation (NYSE:DOV – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,539 shares of the industrial products company’s stock, valued at approximately $1,242,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Dover during the second quarter worth about $2,347,134,000. Bank of New York Mellon Corp acquired a new position in Dover during the second quarter worth $591,207,000. First Trust Advisors LP increased its stake in shares of 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 worth $489,900,000 after purchasing an additional 1,612,159 shares during the last quarter. Norges Bank acquired a new position in Dover during the fourth quarter worth approximately $275,907,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Dover during the 4th quarter worth approximately $151,473,000. Institutional investors own 84.46% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on DOV. Oppenheimer increased their price target on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Seaport Research Partners boosted their target price on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada dropped their price target on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company 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. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $238.29.
Dover Stock Up 1.0%
Shares of NYSE DOV opened at $201.96 on Friday. 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 company has a market capitalization of $27.20 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company’s 50 day moving average price is $212.68 and its 200-day moving average price is $215.61. 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 results 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 return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the business posted $2.44 EPS. The business’s 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. Equities analysts forecast that Dover Corporation will post 10.67 earnings per share for the current year.
Dover Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. Dover’s payout ratio is presently 25.30%.
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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