QRG Capital Management Inc. Purchases 59,455 Shares of Dover Corporation $DOV

Key Points

• QRG Capital Management increased its Dover position by 81.8% in the second quarter, adding 59,455 shares to own 132,164 shares valued at approximately $29.6 million. Institutional investors and hedge funds collectively own 84.46% of Dover.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $238.29, despite some recent target reductions and a stock price of $189.19.
• Dover exceeded 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, representing a 1.1% annual yield.

QRG Capital Management Inc. raised its position in Dover Corporation (NYSE:DOV - Free Report) by 81.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,164 shares of the industrial products company's stock after acquiring an additional 59,455 shares during the quarter. QRG Capital Management Inc. owned approximately 0.10% of Dover worth $29,642,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DOV. Callan Family Office LLC acquired a new position in Dover during the second quarter worth approximately $702,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Dover by 3.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock valued at $42,845,000 after buying an additional 7,396 shares during the last quarter. Independent Financial Group LLC acquired a new stake in shares of Dover in the first quarter valued at approximately $1,367,000. E. Ohman J or Asset Management AB boosted its stake in shares of Dover by 3,177.2% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 146,949 shares of the industrial products company's stock worth $32,958,000 after acquiring an additional 142,465 shares during the period. Finally, Regents Gate Capital LLP acquired a new position in shares of Dover during the 1st quarter worth approximately $8,505,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Royal Bank Of Canada decreased their price objective on shares of Dover from $252.00 to $227.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. BMO Capital Markets raised shares of Dover from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $238.29.

Dover Stock Performance

Shares of NYSE:DOV traded up $2.65 on Wednesday, reaching $189.19. 1,181,001 shares of the company's stock were exchanged, compared to its average volume of 1,158,446. The company has a fifty day moving average of $200.75 and a 200-day moving average of $210.35. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.41 and a beta of 1.15. 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 quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion during 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 period in the previous year, the business earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts predict that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, August 31st. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is currently 25.30%.

Dover Company Profile

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company's products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.

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