Dover Corporation $DOV Shares Purchased by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC more than doubled its Dover position in the third quarter, increasing holdings by 107.5% to 16,285 shares valued at approximately $2.94 million. Institutional investors and hedge funds collectively own 84.46% of Dover’s stock.
• Dover has a “Moderate Buy” consensus rating from analysts, with a $238.21 average price target, although shares recently traded at $188.68—below both their 50-day and 200-day moving averages.
• Dover exceeded quarterly earnings expectations with $2.74 in EPS and reported 6.8% year-over-year revenue growth. The company also raised its quarterly dividend to $0.525 per share, representing a 1.1% annual yield.

GAMMA Investing LLC lifted its position in Dover Corporation (NYSE:DOV - Free Report) by 107.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,285 shares of the industrial products company's stock after acquiring an additional 8,435 shares during the period. GAMMA Investing LLC's holdings in Dover were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. BlackRock Inc. purchased a new stake in shares of Dover in the 2nd quarter valued at $2,347,134,000. Bank of New York Mellon Corp raised its holdings in shares of Dover by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company's stock worth $631,806,000 after purchasing an additional 150,319 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Dover during the second quarter worth $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Dover by 2.2% during the second 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 valued at $217,433,000 after purchasing an additional 20,590 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Dover in the second quarter valued at $211,269,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings lowered Dover from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, September 2nd. Wolfe Research reissued an "outperform" rating and issued a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Robert W. Baird set a $270.00 price objective on shares of Dover in a research note on Friday, July 24th. Finally, BMO Capital Markets upgraded shares of Dover from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $238.21.

Dover Trading Down 0.2%

Shares of NYSE:DOV opened at $188.68 on Friday. The business's 50 day moving average price is $196.10 and its 200-day moving average price is $208.50. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping 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 company 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 business posted $2.44 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts forecast that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.5250 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Monday, August 31st. This represents a $2.10 annualized dividend and a yield of 1.1%. Dover's payout ratio is 25.30%.

About Dover

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.

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