Hsbc Holdings PLC Sells 103,179 Shares of Dover Corporation $DOV

Key Points

• HSBC Holdings PLC reduced its stake in Dover Corporation by 10.3% in the first quarter, selling 103,179 shares and leaving it with 896,841 shares valued at about $186.9 million.
• Analyst sentiment remains mixed but generally positive, with several firms raising price targets; Dover now has a consensus rating of “Moderate Buy” and an average target price of $241.43.
• Dover reported solid quarterly results and continues paying a dividend: EPS of $2.28 slightly beat estimates, revenue rose 10.1% year over year, and the company paid a quarterly dividend of $0.52 per share.

Hsbc Holdings PLC cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 896,841 shares of the industrial products company's stock after selling 103,179 shares during the period. Hsbc Holdings PLC owned approximately 0.67% of Dover worth $186,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Meeder Asset Management Inc. raised its position in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company's stock worth $25,000 after purchasing an additional 89 shares during the period. Reflection Asset Management acquired a new position in shares of Dover in the 4th quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in Dover during the 4th quarter worth approximately $29,000. Tompkins Financial Corp raised its holdings in Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company's stock worth $30,000 after buying an additional 77 shares during the period. Finally, Financial Life Planners bought a new position in Dover in the first quarter valued at approximately $31,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Seaport Research Partners boosted their price objective on shares of Dover from $245.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a report on Sunday, June 7th. BMO Capital Markets increased their price objective on Dover from $237.00 to $250.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Wolfe Research restated an "outperform" rating and issued a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $229.00 price target on shares of Dover in a research note on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average price target of $241.43.

Dover Price Performance

NYSE:DOV opened at $214.04 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. The stock's 50-day simple moving average is $216.30 and its 200 day simple moving average is $215.05. The company has a market cap of $28.82 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.63 and a beta of 1.16. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.

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

Dover Dividend Announcement

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

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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