Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Dover Corporation $DOV

Key Points

• Mitsubishi UFJ Asset Management acquired 350,031 Dover shares worth approximately $78.5 million, representing about 0.26% of the company. Institutional investors and hedge funds collectively own 84.46% of Dover.
• Analysts maintain a “Moderate Buy” consensus on Dover, with an average price target of $238.29; ratings include 10 Buys and five Holds.
• Dover exceeded quarterly EPS expectations with $2.74 versus $2.72 forecast, while revenue rose 6.8% year over year. The company also raised its quarterly dividend to $0.525 per share, or $2.10 annually.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 350,031 shares of the industrial products company's stock, valued at approximately $78,505,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Dover as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Dover during the second quarter worth $591,207,000. First Trust Advisors LP raised its stake in Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company's stock valued at $489,900,000 after buying an additional 1,612,159 shares in the last quarter. Norges Bank acquired a new stake in Dover in the fourth quarter valued at $275,907,000. Diamond Hill Capital Management Inc. purchased a new stake in Dover during the 4th quarter worth about $151,473,000. Finally, Auto Owners Insurance Co lifted its holdings in Dover by 19,424.0% during the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company's stock worth $14,866,000 after buying an additional 757,536 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DOV shares. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Barclays increased their price target on shares of Dover from $206.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, April 24th. Citigroup reissued a "buy" rating on shares of Dover in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average price target of $238.29.

Dover Stock Down 1.6%

Dover stock opened at $203.23 on Wednesday. The stock has a 50 day moving average of $213.60 and a two-hundred day moving average of $215.72. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.57 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 (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, research analysts expect that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced 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 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 1.0%. Dover's dividend payout ratio (DPR) is 25.30%.

Dover Company 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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