Deutsche Bank AG Invests $108.47 Million in Dover Corporation $DOV

Deutsche Bank AG purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 483,636 shares of the industrial products company's stock, valued at approximately $108,470,000. Deutsche Bank AG owned approximately 0.36% of Dover at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Dover by 3.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock worth $42,845,000 after buying an additional 7,396 shares in the last quarter. Leeward Investments LLC MA increased its holdings in Dover by 22.2% in the fourth quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company's stock valued at $11,160,000 after buying an additional 10,377 shares in the last quarter. Independent Financial Group LLC purchased a new position in Dover in the first quarter valued at $1,367,000. Tredje AP fonden raised its position in shares of Dover by 5.4% in the fourth quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company's stock worth $33,590,000 after acquiring an additional 8,774 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Dover by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 315,504 shares of the industrial products company's stock valued at $61,760,000 after acquiring an additional 15,361 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 0.4%

Shares of DOV stock opened at $202.29 on Thursday. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. 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 stock's fifty day moving average is $213.36 and its two-hundred day moving average is $215.72. The firm 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 (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.02. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts expect that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 represents a $2.10 annualized dividend and a yield of 1.0%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 25.06%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DOV shares. Seaport Research Partners lifted their price target on Dover from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Finally, Wolfe Research reiterated an "outperform" rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source