Carnegie Investment Counsel Has $452,000 Stake in Dover Corporation $DOV

Key Points

• Carnegie Investment Counsel cut its Dover stake by 70.5% in the first quarter, leaving it with 2,168 shares valued at about $452,000.
• Wall Street sentiment remains fairly upbeat: Dover has an average “Moderate Buy” rating with a consensus price target of $241.43, and several analysts recently raised targets or reiterated bullish views.
• Dover reported Q1 EPS of $2.28, slightly above estimates, while revenue rose 10.1% year over year; the company also pays a quarterly dividend of $0.52 per share, or $2.08 annually, for a 1.0% yield.

Carnegie Investment Counsel lessened its stake in Dover Corporation (NYSE:DOV - Free Report) by 70.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,168 shares of the industrial products company's stock after selling 5,182 shares during the quarter. Carnegie Investment Counsel's holdings in Dover were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DOV. Fifth Third Bancorp boosted its position in shares of Dover by 128.6% during the 1st quarter. Fifth Third Bancorp now owns 72,715 shares of the industrial products company's stock worth $15,157,000 after acquiring an additional 40,913 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Dover by 10.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,393 shares of the industrial products company's stock worth $1,124,000 after buying an additional 490 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in Dover in the first quarter valued at about $53,000. Kestra Advisory Services LLC grew its position in Dover by 4.1% in the first quarter. Kestra Advisory Services LLC now owns 67,334 shares of the industrial products company's stock valued at $14,036,000 after acquiring an additional 2,651 shares during the last quarter. Finally, Quantum Portfolio Management LLC grew its position in Dover by 6.9% in the first quarter. Quantum Portfolio Management LLC now owns 5,800 shares of the industrial products company's stock valued at $1,209,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DOV. Seaport Research Partners increased their target price on shares of Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Citigroup reaffirmed a "buy" rating on shares of Dover in a report on Friday, April 24th. Weiss Ratings cut shares of Dover from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, July 6th. Wells Fargo & Company raised shares of Dover from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Finally, Barclays boosted their target price on shares of Dover from $206.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $241.43.

Dover Stock Performance

Shares of DOV stock opened at $214.31 on Wednesday. The firm has a market capitalization of $28.86 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.63 and a beta of 1.16. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The business's 50-day moving average price is $216.78 and its 200-day moving average price is $214.84. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54.

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

Dover Announces Dividend

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

Dover Company 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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