Dover Corporation $DOV Position Increased by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management increased its Dover position by 24,578.4% in the third quarter, purchasing 796,832 additional shares. It now owns 800,074 shares valued at approximately $139.7 million, while institutional investors collectively hold 84.46% of Dover.
• Dover reported quarterly earnings of $2.74 per share, narrowly beating estimates, while revenue rose 6.8% year over year to $2.19 billion. The company also increased its quarterly dividend to $0.525 per share, implying a 1.1% annual yield.
• Dover shares recently traded at $191.74, below the analyst consensus price target of $238.21. Analysts maintain a “Moderate Buy” consensus, with 10 Buy ratings and five Hold ratings.

Ferguson Wellman Capital Management Inc. boosted its position in Dover Corporation (NYSE:DOV - Free Report) by 24,578.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,074 shares of the industrial products company's stock after purchasing an additional 796,832 shares during the period. Dover comprises 1.6% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 17th biggest position. Ferguson Wellman Capital Management Inc. owned approximately 0.59% of Dover worth $139,708,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Dover during the second quarter valued at about $2,347,134,000. Bank of New York Mellon Corp raised its stake in Dover by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company's stock valued at $631,806,000 after acquiring an additional 150,319 shares in the last quarter. Bank of America Corp DE acquired a new stake in Dover in the second quarter worth approximately $625,375,000. Franklin Resources Inc. boosted its holdings in Dover by 5.8% during the fourth quarter. Franklin Resources Inc. now owns 1,760,151 shares of the industrial products company's stock worth $343,652,000 after buying an additional 95,845 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Dover by 2.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company's stock worth $217,433,000 after buying an additional 20,590 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 1.1%

NYSE DOV traded up $2.05 during trading hours on Monday, hitting $191.74. 203,249 shares of the company's stock were exchanged, compared to its average volume of 1,160,332. The stock has a 50-day simple moving average of $197.45 and a 200 day simple moving average of $209.25. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.66 and a beta of 1.13. 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 (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The firm had revenue of $2.19 billion for 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 business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities 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 given a dividend of $0.5250 per share. The ex-dividend date was 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 yield of 1.1%. Dover's dividend payout ratio (DPR) is 25.30%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DOV shares. Wolfe Research reaffirmed an "outperform" rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Royal Bank Of Canada cut their target price on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. BMO Capital Markets upgraded Dover from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.21.

Dover Company Profile

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

The company's products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.

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.