Bank of New York Mellon Corp Acquires Shares of 2,636,023 Dover Corporation $DOV

Bank of New York Mellon Corp purchased a new stake in Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,636,023 shares of the industrial products company's stock, valued at approximately $591,207,000. Bank of New York Mellon Corp owned 1.96% of Dover as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DOV. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Dover in the 2nd quarter valued at about $664,000. State of Wyoming bought a new position in Dover during the 2nd quarter valued at $608,000. Kelleher Financial Advisors purchased a new position in Dover during the second quarter worth about $38,000. GSA Capital Partners LLP purchased a new stake in shares of Dover during the second quarter valued at approximately $942,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Dover during the 2nd quarter valued at $30,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE DOV opened at $201.96 on Friday. The stock has a market cap of $27.20 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.52 and a beta of 1.16. The stock has a 50 day moving average of $212.68 and a two-hundred day moving average of $215.61. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. Dover's revenue 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, research analysts forecast that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Dover's previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. Dover's payout ratio is 25.06%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOV. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Oppenheimer lifted their price objective on shares of Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Seaport Research Partners increased their price target on shares of Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Wolfe Research restated an "outperform" rating and issued a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Finally, Citigroup reaffirmed a "buy" rating on shares of Dover in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.29.

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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