42,768 Shares in Dover Corporation $DOV Purchased by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management purchased 42,768 Dover shares in the second quarter, valued at approximately $9.6 million. Institutional investors collectively own 84.46% of the company.
• Analysts maintain a generally positive view of Dover, with a consensus rating of “Moderate Buy” and an average price target of $238.29.
• Dover exceeded quarterly EPS expectations with $2.74 versus $2.72 expected, while revenue rose 6.8% year over year. The company also raised its quarterly dividend to $0.525 per share, equivalent to a 1.0% annual yield.

Clear Harbor Asset Management LLC purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,768 shares of the industrial products company's stock, valued at approximately $9,592,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Dover in the 2nd quarter worth approximately $2,347,134,000. Bank of New York Mellon Corp bought a new position in shares of Dover during the 2nd quarter valued at approximately $591,207,000. First Trust Advisors LP grew its holdings in shares of Dover by 179.7% in the fourth 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 valued at $275,907,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in Dover in the fourth quarter worth $151,473,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Morgan Stanley boosted their target price on shares of Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Wolfe Research restated an "outperform" rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Robert W. Baird set a $270.00 price target on shares of Dover in a report on Friday, July 24th. Finally, BMO Capital Markets raised Dover from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.29.

Dover Stock Up 1.0%

NYSE DOV opened at $201.96 on Friday. 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. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.53 and a beta of 1.16. The company has a fifty day moving average of $212.68 and a two-hundred day moving average of $215.61.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, analysts predict that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 25.06%.

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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