Jupiter Topco LLC Makes New Investment in Dover Corporation $DOV

Jupiter Topco LLC bought a new stake in Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,086 shares of the industrial products company's stock, valued at approximately $10,113,000.

Several other large investors have also made changes to their positions in DOV. BlackRock Inc. acquired a new stake in Dover in the second quarter worth about $2,347,134,000. State Street Corp boosted its stake in shares of Dover by 3.5% in the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company's stock valued at $1,319,978,000 after purchasing an additional 227,436 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dover by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company's stock worth $684,348,000 after buying an additional 30,372 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Dover by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company's stock worth $631,806,000 after buying an additional 150,319 shares during the last quarter. Finally, Nuveen LLC raised its stake in shares of Dover by 9.9% during the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company's stock worth $512,169,000 after buying an additional 235,454 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Shares of DOV stock opened at $198.54 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The firm has a fifty day moving average of $210.67 and a 200-day moving average of $215.13. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the business posted $2.44 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts forecast that Dover Corporation will post 10.67 earnings per share for the current 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. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. Dover's dividend payout ratio (DPR) is presently 25.06%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised shares of Dover from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Morgan Stanley increased their price target on Dover from $210.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada dropped their price objective on Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a report on Friday, July 24th. Finally, Wolfe Research reissued an "outperform" rating and issued a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and a consensus price target 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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