E. Ohman J or Asset Management AB Raises Stock Position in Dover Corporation $DOV

Key Points

• E. Ohman Jor Asset Management AB sharply increased its Dover stake by 3,177.2% in the second quarter, ending with 146,949 shares valued at approximately $33 million. Institutional investors collectively own 84.46% of Dover.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $238.29. Ten analysts rate the stock Buy, while five recommend Hold.
• Dover reported quarterly EPS of $2.74, slightly exceeding estimates, while revenue rose 6.8% year over year to $2.19 billion. The company also raised its quarterly dividend to $0.525 per share, implying a 1.0% annual yield.

E. Ohman J or Asset Management AB lifted its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 3,177.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,949 shares of the industrial products company's stock after acquiring an additional 142,465 shares during the quarter. E. Ohman J or Asset Management AB owned 0.11% of Dover worth $32,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Dover by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company's stock valued at $2,526,000 after buying an additional 676 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company's stock worth $2,636,000 after buying an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Dover during the 2nd quarter worth $488,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Dover in the 2nd quarter worth about $1,030,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Citigroup reaffirmed a "buy" rating on shares of Dover in a report on Friday, April 24th. Weiss Ratings upgraded shares of Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Wolfe Research reissued an "outperform" rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada cut their price objective on Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $238.29.

Dover Trading Down 0.5%

Shares of DOV opened at $209.98 on Tuesday. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a market capitalization of $28.28 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The stock has a fifty day moving average of $214.62 and a two-hundred day moving average of $215.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter last 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. As a group, analysts forecast that Dover Corporation will post 10.65 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is currently 25.06%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover's activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.

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