Amundi Has $142.25 Million Stock Holdings in Dover Corporation $DOV

Key Points

• Amundi increased its Dover stake by 19.6% in the first quarter, purchasing 111,824 additional shares to own 682,420 shares valued at approximately $142.25 million. Institutional investors collectively hold 84.46% of Dover’s stock.
• Analyst sentiment remains generally positive: Dover has a consensus “Moderate Buy” rating from 15 analysts, with a consensus price target of $238.29, despite some recent target adjustments and a “Hold” downgrade.
• Dover reported quarterly EPS of $2.74, narrowly beating estimates, while revenue rose 6.8% year over year to $2.19 billion. The company maintained its $0.52 quarterly dividend, equivalent to a 1.0% annual yield.

Amundi boosted its stake in Dover Corporation (NYSE:DOV - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 682,420 shares of the industrial products company's stock after purchasing an additional 111,824 shares during the period. Amundi owned about 0.51% of Dover worth $142,250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Dover by 174.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company's stock valued at $562,419,000 after buying an additional 1,830,722 shares during the last quarter. First Trust Advisors LP raised its stake 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 worth $489,900,000 after purchasing an additional 1,612,159 shares during the last quarter. Norges Bank bought a new position in shares of Dover in the fourth quarter valued at approximately $275,907,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Dover during the fourth quarter valued at approximately $151,473,000. Finally, Auto Owners Insurance Co raised its holdings in shares of Dover by 19,424.0% in the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company's stock valued at $14,866,000 after purchasing an additional 757,536 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Dover from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Morgan Stanley increased their price target on shares of Dover from $210.00 to $230.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Robert W. Baird set a $270.00 price objective on Dover in a report on Friday, July 24th. Finally, Weiss Ratings upgraded Dover from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.29.

Dover Stock Performance

NYSE:DOV opened at $204.85 on Friday. The firm's fifty day simple moving average is $214.88 and its 200 day simple moving average is $215.46. Dover Corporation has a twelve month low of $158.97 and a twelve 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 stock has a market cap of $27.59 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. The company 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%. Dover's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, research analysts predict that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover's payout ratio is presently 25.06%.

About Dover

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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