Northwestern Mutual Wealth Management Co. Purchases New Shares in Dover Corporation $DOV

Key Points

• Northwestern Mutual Wealth Management purchased 17,739 shares of Dover, valued at approximately $3.98 million. Institutional investors collectively own 84.46% of the company.
• Dover has a “Moderate Buy” consensus rating from analysts, with an average price target of $238.29; recent targets range from $227 to $265.
• Dover reported quarterly earnings of $2.74 per share, slightly exceeding estimates, while revenue rose 6.8% year over year to $2.19 billion. The company also increased its quarterly dividend to $0.525 per share.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,739 shares of the industrial products company's stock, valued at approximately $3,979,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True North Advisors LLC lifted its position in shares of Dover by 2.9% during the first quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company's stock worth $336,000 after purchasing an additional 45 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Dover by 0.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company's stock valued at $1,472,000 after purchasing an additional 51 shares in the last quarter. KCM Investment Advisors LLC raised its position in Dover by 3.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company's stock worth $309,000 after purchasing an additional 53 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Dover by 2.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company's stock worth $489,000 after buying an additional 56 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Dover by 1.3% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company's stock worth $975,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. BMO Capital Markets raised Dover from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Royal Bank Of Canada lowered their price target on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research report on Friday, July 24th. Seaport Research Partners increased their price objective on shares of Dover from $245.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Dover from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 4th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $262.00 price objective 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 issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $238.29.

Dover Stock Up 0.8%

Shares of NYSE DOV opened at $203.63 on Tuesday. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a market cap of $27.43 billion, a P/E ratio of 24.53, a P/E/G ratio of 1.53 and a beta of 1.16. The firm has a 50 day moving average price of $212.33 and a 200 day moving average price of $215.61.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the business posted $2.44 earnings per share. The business'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. Analysts expect that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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. 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 is presently 25.30%.

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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