Bank of America Corp DE Makes New Investment in Dover Corporation $DOV

Key Points

• Bank of America acquired 2.79 million Dover shares in the second quarter, worth approximately $625.4 million and representing 2.07% of the company. Institutional investors collectively own 84.46% of Dover.
• Dover reported quarterly EPS of $2.74, narrowly exceeding analyst estimates, while revenue rose 6.8% year over year to $2.19 billion. The company set fiscal 2026 EPS guidance at $10.55–$10.75.
• Dover raised its quarterly dividend to $0.525 per share, or $2.10 annually, implying a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $238.29.

Bank of America Corp DE bought a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,788,366 shares of the industrial products company's stock, valued at approximately $625,375,000. Bank of America Corp DE owned 2.07% of Dover at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Callan Family Office LLC bought a new position in Dover in the second quarter worth approximately $702,000. Northwestern Mutual Wealth Management Co. increased its holdings in Dover by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock worth $42,845,000 after purchasing an additional 7,396 shares during the period. Independent Financial Group LLC bought a new stake in Dover during the 1st quarter valued at $1,367,000. E. Ohman J or Asset Management AB lifted its holdings in shares of Dover by 3,177.2% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 146,949 shares of the industrial products company's stock worth $32,958,000 after buying an additional 142,465 shares during the period. Finally, Regents Gate Capital LLP purchased a new stake in shares of Dover in the 1st quarter worth $8,505,000. Institutional investors own 84.46% of the company's stock.

Dover Stock Performance

DOV stock opened at $189.27 on Wednesday. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a 50-day simple moving average of $203.33 and a two-hundred day simple moving average of $211.64.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 25.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOV. BMO Capital Markets upgraded Dover from a "market perform" rating to an "outperform" rating and cut their price target for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Robert W. Baird set a $270.00 target price on shares of Dover in a research report on Friday, July 24th. Royal Bank Of Canada reduced their price target on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings lowered shares of Dover from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 2nd. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and an average target price of $238.29.

About Dover

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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