Dover Corporation $DOV Stock Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions nearly doubled its Dover position in the second quarter, adding 7,322 shares to hold 14,701 shares valued at approximately $3.3 million. Institutional investors collectively own 84.46% of Dover.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $238.21. Recent recommendations included upgrades and price targets ranging from $227 to $270.
• Dover exceeded quarterly EPS expectations with $2.74 versus $2.72 anticipated, while revenue rose 6.8% year over year to $2.19 billion. The company also raised its quarterly dividend to $0.525 per share, equivalent to a 1.1% annual yield.

Envestnet Portfolio Solutions Inc. raised its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 99.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,701 shares of the industrial products company's stock after purchasing an additional 7,322 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Dover were worth $3,297,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Dover in the 4th quarter worth approximately $26,000. MV Capital Management Inc. purchased a new stake in Dover in the fourth quarter worth approximately $29,000. Clearstead Trust LLC bought a new position in Dover during the second quarter valued at approximately $30,000. Financial Life Planners purchased a new position in shares of Dover during the first quarter worth approximately $31,000. Finally, Leonteq Securities AG bought a new stake in shares of Dover in the 4th quarter worth approximately $34,000. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DOV shares. Morgan Stanley upped their price objective on shares of Dover from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, June 4th. Royal Bank Of Canada lowered their price target 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. BMO Capital Markets upgraded shares of Dover from a "market perform" rating to an "outperform" rating and cut their price target for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Robert W. Baird set a $270.00 price objective on Dover in a report on Friday, July 24th. Finally, Wolfe Research reissued an "outperform" rating and issued a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $238.21.

Dover Trading Up 2.1%

NYSE DOV opened at $191.81 on Friday. The firm has a market capitalization of $25.83 billion, a PE ratio of 23.11, a P/E/G ratio of 1.43 and a beta of 1.15. The stock's 50 day moving average is $199.24 and its 200 day moving average is $209.89. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts forecast 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 was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, August 31st. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 1.1%. Dover's payout ratio is presently 25.30%.

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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