Dover Corporation $DOV Position Cut by Corient Private Wealth LP

Corient Private Wealth LP decreased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 90.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,533 shares of the industrial products company's stock after selling 592,648 shares during the quarter. Corient Private Wealth LP's holdings in Dover were worth $14,249,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Dover in the 2nd quarter valued at about $2,347,134,000. Bank of America Corp DE bought a new position in Dover in the 2nd quarter worth about $625,375,000. Bank of New York Mellon Corp bought a new position in Dover in the 2nd quarter worth about $591,207,000. Norges Bank acquired a new stake in shares of Dover in the fourth quarter valued at approximately $275,907,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Dover during the second quarter valued at approximately $211,269,000. Institutional investors own 84.46% of the company's stock.

Dover Stock Performance

Shares of NYSE DOV opened at $189.27 on Wednesday. The stock has a fifty day moving average price of $203.33 and a two-hundred day moving average price of $211.64. 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 firm has a market cap of $25.49 billion, a P/E ratio of 22.80, a PEG ratio of 1.44 and a beta of 1.15. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts forecast that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 25.30%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOV. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a research report on Friday, July 24th. Morgan Stanley boosted their price target on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Weiss Ratings cut Dover from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 2nd. BMO Capital Markets raised Dover from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Dover presently has an average rating of "Moderate Buy" and a consensus price target of $238.29.

About Dover

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company's products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.

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