NewEdge Wealth LLC Makes New Investment in Dover Corporation $DOV

Key Points

• NewEdge Wealth acquired 5,539 shares of Dover during the second quarter, valued at approximately $1.24 million. Institutional investors and hedge funds collectively own 84.46% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $238.29. Recent targets range as high as $265, although Wall Street Zen downgraded the stock to “Hold.”
• Dover exceeded quarterly EPS expectations with $2.74 versus $2.72, while revenue rose 6.8% year over year to $2.19 billion. The company also raised its quarterly dividend to $0.525, representing a 1.0% annualized yield.

NewEdge Wealth LLC acquired a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,539 shares of the industrial products company's stock, valued at approximately $1,242,000.

Several other hedge funds and other institutional investors have also modified their holdings 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 during the fourth quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in shares of Dover in the 4th quarter worth approximately $29,000. Clearstead Trust LLC acquired a new position in Dover in the second quarter worth approximately $30,000. Finally, Financial Life Planners acquired a new stake in shares of Dover during the first quarter worth $31,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DOV shares. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Oppenheimer lifted their target price on shares of Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Barclays upped their price target on Dover from $206.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. Wolfe Research reiterated an "outperform" rating and issued a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Finally, Seaport Research Partners raised their target price on Dover from $245.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $238.29.

Dover Price Performance

Shares of Dover stock opened at $201.96 on Friday. The firm's 50-day moving average price is $212.68 and its two-hundred day moving average price is $215.61. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.52 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 issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.02. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities analysts predict that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

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