25,590 Dover Corporation $DOV Shares Bought by State of Alaska Department of Revenue

Key Points

• State of Alaska increased its Dover stake by 193.9% in the third quarter, buying 25,590 additional shares and bringing its holdings to 38,785 shares valued at approximately $6.9 million. Institutional investors collectively own 84.46% of Dover.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and an average price target of $237.93, despite several recent target reductions.
• Dover reported quarterly earnings of $2.74 per share, slightly exceeding estimates, while revenue rose 6.8% year over year to $2.19 billion. The company also raised its quarterly dividend to $0.525 per share, equal to a 1.1% annualized yield.

State of Alaska Department of Revenue increased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 193.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,785 shares of the industrial products company's stock after acquiring an additional 25,590 shares during the period. State of Alaska Department of Revenue's holdings in Dover were worth $6,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reflection Asset Management bought a new position in Dover during the fourth quarter worth about $26,000. Clearstead Trust LLC acquired a new stake in Dover during the second quarter valued at approximately $30,000. MV Capital Management Inc. bought a new stake in shares of Dover in the 4th quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Dover in the 2nd quarter valued at approximately $34,000. Finally, Financial Life Planners bought a new stake in shares of Dover in the 1st quarter valued at approximately $31,000. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Mizuho decreased their price target on Dover from $270.00 to $245.00 and set an "outperform" rating on the stock in a research note on Thursday. 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 research report on Friday, July 24th. Wells Fargo & Company started coverage on Dover in a research note on Thursday, September 24th. They set an "overweight" rating and a $229.00 price objective for the company. Finally, Royal Bank Of Canada dropped their price objective on Dover from $227.00 to $216.00 and set a "sector perform" rating for the company in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.93.

Dover Price Performance

NYSE:DOV opened at $193.99 on Friday. The firm has a market cap of $26.13 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. Dover Corporation has a 12 month low of $163.33 and a 12 month high of $237.54. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $194.76 and its two-hundred day moving average price is $207.94.

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, topping the consensus estimate of $2.72 by $0.02. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities analysts anticipate that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.5250 per share. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover's dividend payout ratio is currently 25.30%.

About Dover

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company's products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.