First Trust Advisors LP Sells 267,464 Shares of Dover Corporation $DOV

Key Points

• First Trust Advisors LP cut its Dover stake by 10.7% in the first quarter, selling 267,464 shares and leaving it with 2.24 million shares valued at about $467.3 million.
• Wall Street sentiment remains fairly positive: Dover has a Moderate Buy consensus rating, with eight Buy ratings and seven Hold ratings, and an average price target of $241.43.
• Dover posted quarterly EPS of $2.28, slightly above expectations, while revenue rose 10.1% year over year to $2.05 billion; the company also paid a quarterly dividend of $0.52 per share.

First Trust Advisors LP reduced its holdings in Dover Corporation (NYSE:DOV - Free Report) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,241,753 shares of the industrial products company's stock after selling 267,464 shares during the period. First Trust Advisors LP owned approximately 1.66% of Dover worth $467,293,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Dover in the 4th quarter valued at about $10,195,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Dover by 15.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,470 shares of the industrial products company's stock valued at $8,442,000 after acquiring an additional 5,514 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock worth $42,845,000 after acquiring an additional 7,396 shares during the last quarter. BIP Wealth LLC acquired a new position in Dover during the fourth quarter valued at approximately $538,000. Finally, Pensionfund Sabic acquired a new position in Dover during the fourth quarter valued at approximately $1,230,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DOV shares. Citigroup reiterated a "buy" rating on shares of Dover in a report on Friday, April 24th. Oppenheimer upped their price objective on shares of Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Morgan Stanley lifted their target price on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Royal Bank Of Canada restated a "sector perform" rating and issued a $252.00 price target on shares of Dover in a report on Friday, April 24th. Finally, Wall Street Zen raised Dover from a "hold" rating to a "buy" rating in a research report on Sunday, June 7th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and a consensus price target of $241.43.

Dover Stock Performance

Shares of DOV opened at $211.30 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The firm has a fifty day simple moving average of $215.98 and a 200 day simple moving average of $215.36. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.59 and a beta of 1.16.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The business's quarterly revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Research analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover's payout ratio is presently 25.94%.

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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