Legal & General Group Plc Invests $183.57 Million in Dover Corporation $DOV

Key Points

• Legal & General Group acquired 818,502 Dover shares worth approximately $183.6 million, giving it a 0.61% stake. Institutional investors collectively own 84.46% of Dover.
• Dover reported quarterly EPS of $2.74, slightly exceeding estimates, while revenue rose 6.8% year over year to $2.19 billion. The company set fiscal 2026 EPS guidance at $10.55–$10.75.
• Dover raised its quarterly dividend to $0.525 per share, or $2.10 annually, producing a 1.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $238.29.

Legal & General Group Plc purchased a new position in Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 818,502 shares of the industrial products company's stock, valued at approximately $183,574,000. Legal & General Group Plc owned 0.61% of Dover at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Dover by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company's stock worth $3,266,951,000 after acquiring an additional 120,341 shares during the period. BlackRock Inc. purchased a new stake in shares of Dover in the second quarter valued at approximately $2,347,134,000. State Street Corp grew its stake in Dover by 3.5% in the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company's stock worth $1,319,978,000 after purchasing an additional 227,436 shares in the last quarter. Geode Capital Management LLC grew its stake in Dover by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company's stock worth $684,348,000 after purchasing an additional 30,372 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Dover by 5.2% during the 1st 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 purchasing an additional 150,319 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 1.3%

Shares of NYSE:DOV opened at $204.78 on Thursday. The company has a market capitalization of $27.58 billion, a PE ratio of 24.67, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a current ratio of 1.98, a quick ratio of 1.41 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 business's fifty day simple moving average is $211.61 and its 200-day simple moving average is $215.40.

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 for the quarter, topping analysts' consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the prior year, the business posted $2.44 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities research analysts predict that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.525 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is 25.06%.

Analyst Ratings Changes

Several brokerages have weighed in on DOV. Morgan Stanley upped their target price on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Weiss Ratings upgraded Dover from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Royal Bank Of Canada dropped their target price on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. Finally, Robert W. Baird set a $270.00 target price on shares of Dover in a research report 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 MarketBeat.com, the stock 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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