Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,496 shares of the industrial products company's stock, valued at approximately $2,803,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOV. Meeder Asset Management Inc. increased its stake in shares of Dover by 234.2% in 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 Dover in the 4th quarter worth approximately $26,000. MV Capital Management Inc. bought a new position in Dover in the 4th quarter worth approximately $29,000. Clearstead Trust LLC acquired a new stake in Dover in the 2nd quarter valued at approximately $30,000. Finally, Financial Life Planners bought a new stake in Dover during the 1st quarter valued at $31,000. 84.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Royal Bank Of Canada reduced their price target on Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research report on Friday, July 24th. Morgan Stanley lifted their price objective on shares of 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 raised shares of Dover from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 4th. Wolfe Research reiterated an "outperform" rating and issued a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Finally, Seaport Research Partners raised their target price on shares of Dover from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and an average price target of $238.29.
Check Out Our Latest Stock Analysis on DOV
Dover Stock Up 0.8%
Shares of DOV stock opened at $203.63 on Tuesday. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The stock has a market cap of $27.43 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The business's fifty day moving average is $212.33 and its 200-day moving average is $215.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.
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 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 during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The company's revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities analysts expect that Dover Corporation will post 10.67 earnings per share for the current fiscal year.
Dover Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 25.30%.
About Dover
(
Free Report)
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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