Bank of New York Mellon Corp Acquires 150,319 Shares of Dover Corporation $DOV

Key Points

• Bank of New York Mellon increased its stake in Dover by 5.2% in the first quarter, buying 150,319 additional shares and bringing its total holdings to 3,030,972 shares worth about $631.8 million.
• Wall Street remains cautiously positive on Dover, with eight Buy ratings and seven Hold ratings; the consensus view is a “Moderate Buy” and the average price target is $241.43.
• Dover reported slightly better-than-expected quarterly EPS of $2.28, though revenue missed estimates at $2.05 billion; the company also maintained a quarterly dividend of $0.52 per share, equal to a 1.0% annual yield.

Bank of New York Mellon Corp boosted its holdings in Dover Corporation (NYSE:DOV - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,030,972 shares of the industrial products company's stock after buying an additional 150,319 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.25% of Dover worth $631,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. increased its position in Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company's stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management acquired a new stake in Dover in the fourth quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in shares of Dover during the fourth quarter worth $29,000. Tompkins Financial Corp increased its holdings in shares of Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company's stock worth $30,000 after buying an additional 77 shares in the last quarter. Finally, Financial Life Planners acquired a new position in shares of Dover during the first quarter worth $31,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DOV. Weiss Ratings downgraded Dover from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, July 6th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $252.00 target price on shares of Dover in a research report on Friday, April 24th. Wolfe Research reissued an "outperform" rating and set a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. BMO Capital Markets boosted their price target on Dover from $237.00 to $250.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Finally, Seaport Research Partners upped their price objective on Dover from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average price target of $241.43.

Dover Stock Up 2.5%

Shares of NYSE:DOV opened at $217.49 on Friday. The firm has a market cap of $29.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.61 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The business has a fifty day simple moving average of $216.41 and a 200 day simple moving average of $215.05.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business's revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Analysts predict that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover's dividend payout ratio is currently 25.94%.

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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