OMERS ADMINISTRATION Corp Makes New $2.07 Million Investment in Dover Corporation $DOV

Key Points

• OMERS Administration Corp. purchased 9,237 Dover shares worth approximately $2.07 million in the second quarter. Institutional investors collectively own 84.46% of Dover’s outstanding stock.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $238.29.
• Dover beat quarterly earnings expectations with $2.74 in EPS, while revenue rose 6.8% year over year to $2.19 billion. The company also raised its quarterly dividend to $0.525 per share, implying a 1.0% annualized yield.

OMERS ADMINISTRATION Corp purchased a new stake in Dover Corporation (NYSE:DOV - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,237 shares of the industrial products company's stock, valued at approximately $2,072,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock valued at $552,000 after acquiring an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company's stock valued at $2,526,000 after purchasing an additional 676 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company's stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Dover in the 2nd quarter worth $488,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Dover during the 2nd quarter worth $1,030,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BMO Capital Markets upgraded Dover from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Weiss Ratings upgraded Dover from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. Wolfe Research restated an "outperform" rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Royal Bank Of Canada lowered their target price on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating for the company in a research note 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 issued a Hold rating to the company. According to MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.29.

Dover Trading Up 1.3%

Shares of NYSE:DOV opened at $204.78 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.53 and a beta of 1.16. The business has a 50-day moving average price of $211.61 and a 200-day moving average price of $215.40.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Dover's revenue for the quarter 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 predict 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. Investors of record on Monday, August 31st will be given 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, August 31st. Dover's payout ratio is presently 25.06%.

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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