Baird Financial Group Inc. Boosts Position in Dover Corporation $DOV

Key Points

• Baird Financial Group increased its Dover stake by 11.7% in the second quarter, holding 75,360 shares worth approximately $16.9 million. Institutional investors collectively own 84.46% of Dover’s stock.
• Dover reported quarterly EPS of $2.74, slightly above 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, equating to a 1.1% annualized yield.
• Analyst sentiment remains positive, with Dover receiving a consensus “Moderate Buy” rating and an average price target of $238.29, compared with the stock’s reported opening price of $188.94.

Baird Financial Group Inc. raised its stake in Dover Corporation (NYSE:DOV - Free Report) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,360 shares of the industrial products company's stock after purchasing an additional 7,890 shares during the period. Baird Financial Group Inc. owned 0.06% of Dover worth $16,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. California State Teachers Retirement System lifted its position in Dover by 17,645.5% in the second quarter. California State Teachers Retirement System now owns 39,632,967 shares of the industrial products company's stock valued at $8,888,882,000 after acquiring an additional 39,409,626 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Dover during the second quarter worth about $2,347,134,000. Bank of America Corp DE acquired a new stake in shares of Dover during the second quarter worth about $625,375,000. Bank of New York Mellon Corp purchased a new stake in shares of Dover in the 2nd quarter valued at about $591,207,000. Finally, First Trust Advisors LP lifted its holdings in shares of Dover by 179.7% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Up 0.8%

DOV stock opened at $188.94 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $204.34 and its 200 day moving average price is $212.33. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The company has a market cap of $25.45 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.44 and a beta of 1.15.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts expect that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.525 per share. The ex-dividend date is Monday, August 31st. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover's dividend payout ratio (DPR) is presently 25.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets upgraded Dover from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Wolfe Research reaffirmed an "outperform" rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Morgan Stanley upped 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. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Royal Bank Of Canada lowered their price objective on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $238.29.

Dover Company Profile

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

The company's products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.

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