OP Asset Management Ltd Takes Position in Dover Corporation $DOV

Key Points

• OP Asset Management Ltd initiated a new position in Dover Corporation, buying 16,105 shares valued at about $3.36 million in the first quarter.
• Dover reported quarterly earnings of $2.28 per share, edging past estimates, while revenue of $2.05 billion fell short of expectations but still rose 10.1% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $239.85; Dover also pays a quarterly dividend of $0.52 per share, or a 0.9% annual yield.

OP Asset Management Ltd acquired a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,105 shares of the industrial products company's stock, valued at approximately $3,357,000.

Other large investors have also recently bought and sold shares of the company. 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 worth $1,472,000 after purchasing an additional 51 shares during the period. Frank Rimerman Advisors LLC grew its position in Dover by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company's stock worth $476,000 after buying an additional 52 shares in the last quarter. KCM Investment Advisors LLC increased its stake 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 acquiring an additional 53 shares during the last quarter. Tectonic Advisors LLC increased its stake in Dover by 1.7% in the 4th quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company's stock worth $620,000 after acquiring an additional 54 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Dover by 2.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company's stock valued at $489,000 after acquiring an additional 56 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Down 2.0%

Shares of DOV opened at $226.08 on Friday. The stock has a market capitalization of $30.44 billion, a P/E ratio of 28.19, a PEG ratio of 1.72 and a beta of 1.17. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $218.34 and a two-hundred day simple moving average of $213.15.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, research analysts anticipate that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover's dividend payout ratio is presently 25.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird boosted their price objective on Dover from $255.00 to $279.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. BMO Capital Markets lifted their target price on shares of Dover from $237.00 to $250.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Oppenheimer boosted their price target on shares of Dover from $242.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Barclays lifted their price objective on shares of Dover from $206.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Dover from a "hold" rating to a "buy" rating in a research report on Sunday, June 7th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $239.85.

About Dover

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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