Glenview Trust Co purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,300 shares of the industrial products company's stock, valued at approximately $1,862,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. North Star Asset Management Inc. purchased a new stake in Dover during the 2nd quarter valued at $788,000. Empowered Funds LLC purchased a new position in Dover in the 2nd quarter worth about $2,612,000. United Capital Financial Advisors LLC bought a new position in Dover during the 2nd quarter valued at about $5,155,000. Equitable Holdings Inc. bought a new stake in shares of Dover in the second quarter worth approximately $1,732,000. Finally, Centaurus Financial Inc. purchased a new position in shares of Dover during the second quarter valued at approximately $178,000. 84.46% of the stock is owned by institutional investors.
Dover Stock Performance
Shares of Dover stock opened at $198.54 on Friday. The company has a market capitalization of $26.74 billion, a PE ratio of 23.92, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a 50-day simple moving average of $210.67 and a two-hundred day simple moving average of $215.13. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. 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 issued 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. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.
Dover Increases Dividend
The firm 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. The ex-dividend date is Monday, August 31st. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is currently 25.06%.
Analysts Set New Price Targets
Several brokerages recently issued reports on DOV. Wolfe Research restated an "outperform" rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Weiss Ratings upgraded Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Robert W. Baird set a $270.00 target price on shares of Dover in a research report on Friday, July 24th. BMO Capital Markets upgraded 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, Royal Bank Of Canada lowered their target price 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. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $238.29.
Check Out Our Latest Analysis on Dover
About Dover
(
Free Report)
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.
See Also
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