Ieq Capital LLC Purchases New Stake in Dover Corporation $DOV

Key Points

• Ieq Capital LLC acquired 8,702 shares of Dover during the second quarter, valued at approximately $1.95 million. Institutional investors collectively own 84.46% of the company.
• Dover reported quarterly EPS of $2.74, slightly exceeding estimates, while revenue rose 6.8% year over year to $2.19 billion. The company raised its quarterly dividend to $0.525 per share, representing a 1.0% annualized yield.
• Dover shares recently traded at $202.25, below the analyst consensus price target of $238.29. Analysts maintain a “Moderate Buy” consensus, with 10 Buy ratings and five Hold ratings.

Ieq Capital LLC bought a new stake in Dover Corporation (NYSE:DOV - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,702 shares of the industrial products company's stock, valued at approximately $1,952,000.

A number of other hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 89 shares during the period. Reflection Asset Management bought a new position in shares of Dover during the 4th quarter worth $26,000. MV Capital Management Inc. purchased a new stake in Dover in the 4th quarter worth about $29,000. Clearstead Trust LLC bought a new stake in Dover in the 2nd quarter valued at about $30,000. Finally, Financial Life Planners purchased a new stake in Dover during the first quarter valued at about $31,000. Institutional investors own 84.46% of the company's stock.

Dover Trading Down 0.7%

Shares of DOV stock opened at $202.25 on Wednesday. The business has a 50-day moving average price of $211.92 and a two-hundred day moving average price of $215.49. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. 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 firm has a market cap of $27.24 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

Dover (NYSE:DOV - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.Dover's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities analysts anticipate 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 paid a $0.525 dividend. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. Dover's dividend payout ratio is currently 25.06%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DOV. BMO Capital Markets raised shares of Dover from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Robert W. Baird set a $270.00 price objective on shares of Dover in a research note on Friday, July 24th. Seaport Research Partners increased their target price on Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Wolfe Research reaffirmed an "outperform" rating and issued a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Finally, Royal Bank Of Canada dropped their price objective on Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $238.29.

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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