Grandfield & Dodd LLC Buys New Holdings in Dover Corporation $DOV

Key Points

• Grandfield & Dodd LLC acquired 23,082 shares of Dover Corporation in the second quarter, valued at approximately $5.18 million. Institutional investors collectively own 84.46% of Dover’s outstanding stock.
• Analyst sentiment remains favorable, with 10 Buy ratings and five Holds, producing a consensus rating of “Moderate Buy” and an average price target of $238.29.
• Dover reported quarterly EPS of $2.74, narrowly beating 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, equivalent to a 1.0% annual yield.

Grandfield & Dodd LLC acquired a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,082 shares of the industrial products company's stock, valued at approximately $5,177,000.

Several other institutional investors have also recently added to or reduced their stakes in DOV. Meeder Asset Management Inc. lifted its position in shares of Dover by 234.2% during 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 last quarter. Reflection Asset Management purchased a new position in shares of Dover during the fourth quarter worth about $26,000. MV Capital Management Inc. purchased a new position in shares of Dover in the 4th quarter valued at approximately $29,000. Clearstead Trust LLC acquired a new position in Dover in the 2nd quarter valued at $30,000. Finally, Financial Life Planners acquired a new position in shares of Dover during the first quarter worth about $31,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DOV. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $229.00 price objective on shares of Dover in a report on Friday, April 24th. Weiss Ratings upgraded Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Wolfe Research restated an "outperform" rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Citigroup restated a "buy" rating on shares of Dover in a report on Friday, April 24th. Finally, Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $238.29.

Dover Stock Down 0.2%

Shares of NYSE:DOV opened at $206.71 on Tuesday. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The company has a market capitalization of $27.84 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $213.95 and a two-hundred day moving average of $215.73.

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 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 analysts' expectations of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, analysts forecast that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared 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 is a boost from Dover's previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Dover's dividend 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.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source