Empowered Funds LLC Purchases Shares of 11,646 Dover Corporation $DOV

Key Points

• Empowered Funds LLC acquired 11,646 Dover shares worth approximately $2.6 million, while institutional investors collectively own 84.46% of the company.
• Analyst sentiment remains positive, with 10 Buy ratings and five Holds; Dover has a “Moderate Buy” consensus rating and an average price target of $238.29.
• Dover beat quarterly EPS estimates with $2.74 per share and reported 6.8% year-over-year revenue growth. The company also raised its quarterly dividend to $0.525, representing a 1.1% annualized yield.

Empowered Funds LLC purchased a new position in Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,646 shares of the industrial products company's stock, valued at approximately $2,612,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DOV. Meeder Asset Management Inc. boosted its holdings in Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company's stock worth $25,000 after buying an additional 89 shares during the period. Reflection Asset Management bought a new stake in Dover during the fourth quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in Dover during the fourth quarter valued at about $29,000. Clearstead Trust LLC purchased a new position in shares of Dover in the second quarter valued at about $30,000. Finally, Financial Life Planners purchased a new position in shares of Dover in the first quarter valued at about $31,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. Morgan Stanley increased their target price on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Wolfe Research reaffirmed an "outperform" rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and an average price target of $238.29.

Dover Trading Down 0.5%

Shares of DOV stock opened at $189.07 on Thursday. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock's 50-day moving average price is $208.58 and its 200-day moving average price is $214.21. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts predict that Dover Corporation will post 10.66 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. Dover's payout ratio is 25.30%.

About Dover

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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