Sanctuary Advisors LLC Makes New Investment in Dover Corporation $DOV

Key Points

• Sanctuary Advisors LLC purchased 18,899 shares of Dover, valued at approximately $4.24 million, while institutional investors collectively own 84.46% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $238.29; Dover recently reported quarterly EPS of $2.74, slightly above estimates.
• Dover increased its quarterly dividend from $0.52 to $0.525 per share, implying an annualized dividend of $2.10 and a 1.0% yield.

Sanctuary Advisors LLC purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,899 shares of the industrial products company's stock, valued at approximately $4,239,000.

A number of other institutional investors and hedge funds have also modified their holdings of DOV. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company's stock valued at $42,845,000 after purchasing an additional 7,396 shares during the period. Leeward Investments LLC MA increased its position in Dover by 22.2% during the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company's stock worth $11,160,000 after buying an additional 10,377 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Dover during the first quarter worth $1,367,000. Tredje AP fonden boosted its position in shares of Dover by 5.4% in the fourth quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company's stock valued at $33,590,000 after acquiring an additional 8,774 shares during the period. Finally, E. Ohman J or Asset Management AB grew its stake in shares of Dover by 3,177.2% in the second quarter. E. Ohman J or Asset Management AB now owns 146,949 shares of the industrial products company's stock valued at $32,958,000 after acquiring an additional 142,465 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DOV. Wolfe Research restated an "outperform" rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Seaport Research Partners increased their price target on Dover from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Morgan Stanley raised their price objective on Dover from $210.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Finally, Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $238.29.

Dover Trading Up 0.8%

Shares of Dover stock opened at $203.63 on Tuesday. The firm's 50 day moving average is $212.33 and its 200 day moving average is $215.61. The firm has a market capitalization of $27.43 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. 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 earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.02. The business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts forecast that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is currently 25.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source