Bank of Nova Scotia acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 66,636 shares of the industrial products company's stock, valued at approximately $14,945,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in Dover in the 2nd quarter valued at approximately $283,000. Daiichi Life Insurance Co. Ltd. acquired a new position in Dover during the 2nd quarter worth $2,288,000. Commerce Bank bought a new position in shares of Dover in the second quarter worth $11,673,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Dover in the second quarter worth $3,979,000. Finally, Evolve Private Wealth LLC acquired a new stake in Dover in the second quarter worth about $458,000. 84.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. 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. Seaport Research Partners boosted their price objective on Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Wolfe Research restated an "outperform" rating and issued a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Finally, Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $238.29.
Check Out Our Latest Research Report on DOV
Dover Trading Up 0.8%
NYSE:DOV opened at $203.63 on Tuesday. The stock has a fifty day simple moving average of $212.33 and a 200 day simple moving average of $215.61. The firm has a market capitalization of $27.43 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year 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.
Dover (NYSE:DOV - Get Free Report) last posted 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts forecast that Dover Corporation will post 10.67 earnings per share for the current year.
Dover Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. This is a boost 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 25.06%.
Dover Company Profile
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Free Report)
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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