Dover Corporation $DOV Stock: Wedmont Private Capital Boosts Holdings

Key Points

• Wedmont Private Capital increased its Dover stake by 222.9% in the third quarter, bringing its holdings to 10,115 shares valued at approximately $1.8 million. Institutional investors collectively own 84.46% of Dover.
• Analyst sentiment remains positive, with 10 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $238.21, above the stock’s reported $188.68 price.
• Dover exceeded quarterly EPS estimates and reported 6.8% year-over-year revenue growth. The company also raised its quarterly dividend to $0.525 per share, equivalent to a $2.10 annualized payout and a 1.1% yield.

Wedmont Private Capital raised its holdings in Dover Corporation (NYSE:DOV - Free Report) by 222.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,115 shares of the industrial products company's stock after buying an additional 6,982 shares during the quarter. Wedmont Private Capital's holdings in Dover were worth $1,807,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Dover in the second quarter valued at about $2,347,134,000. Bank of New York Mellon Corp lifted its stake in 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 period. Bank of America Corp DE acquired a new stake in Dover during the second quarter valued at approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Dover by 2.2% in 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 valued at $217,433,000 after purchasing an additional 20,590 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Dover in the 2nd quarter worth approximately $211,269,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Royal Bank Of Canada dropped their price objective on Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research note on Friday, July 24th. Weiss Ratings downgraded shares of Dover from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 2nd. BMO Capital Markets raised shares of Dover from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Wells Fargo & Company initiated coverage on shares of Dover in a report on Thursday, September 24th. They issued an "overweight" rating and a $229.00 target price on the stock. Ten research 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, Dover presently has an average rating of "Moderate Buy" and an average price target of $238.21.

Dover Trading Down 0.2%

DOV stock opened at $188.68 on Friday. The business has a fifty day moving average price of $196.10 and a 200 day moving average price of $208.50. 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 Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.65 and a beta of 1.13.

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. Dover had a return on equity of 18.32% and a net margin of 13.48%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

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

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.

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