BlackRock Inc. Makes New Investment in Dover Corporation $DOV

BlackRock Inc. acquired a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,465,196 shares of the industrial products company's stock, valued at approximately $2,347,134,000. BlackRock Inc. owned approximately 7.77% of Dover as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Dover in the second quarter valued at approximately $591,207,000. First Trust Advisors LP lifted its position in shares of Dover by 179.7% during the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company's stock worth $489,900,000 after buying an additional 1,612,159 shares during the last quarter. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at $275,907,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Dover in the 4th quarter valued at $151,473,000. Finally, Auto Owners Insurance Co grew its position in shares of Dover by 19,424.0% in the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company's stock valued at $14,866,000 after buying an additional 757,536 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Down 0.4%

Shares of Dover stock opened at $202.29 on Thursday. 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 company has a market capitalization of $27.24 billion, a P/E ratio of 24.37, a PEG ratio of 1.54 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The company's fifty day moving average is $213.36 and its two-hundred day moving average is $215.72.

Dover (NYSE:DOV - Get Free Report) last announced 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 business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The business'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. Analysts forecast that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend 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 dividend yield of 1.0%. Dover's dividend payout ratio is presently 25.06%.

Analysts Set New Price Targets

DOV has been the subject of a number of research reports. 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 research report on Friday, July 24th. Seaport Research Partners lifted their target price on Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Robert W. Baird set a $270.00 target price on Dover in a report on Friday, July 24th. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Oppenheimer raised their price target on Dover from $242.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. 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, Dover currently has an average rating of "Moderate Buy" and an average target price of $238.29.

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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