Van ECK Associates Corp Takes $4.82 Million Position in Dover Corporation $DOV

Key Points

• Van ECK Associates established a new Dover position of 21,503 shares valued at approximately $4.82 million during the second quarter. Institutional investors collectively own 84.46% of Dover’s outstanding stock.
• Dover’s latest quarterly results modestly exceeded expectations, with adjusted earnings of $2.74 per share versus the $2.72 consensus estimate, while revenue rose 6.8% year over year to $2.19 billion.
• Dover raised its quarterly dividend to $0.525 per share, or $2.10 annually, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $238.29.

Van ECK Associates Corp bought a new stake in Dover Corporation (NYSE:DOV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,503 shares of the industrial products company's stock, valued at approximately $4,823,000.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its holdings in Dover by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 941,695 shares of the industrial products company's stock valued at $211,269,000 after buying an additional 44,854 shares during the period. Kingsview Wealth Management LLC bought a new position in shares of Dover during the 2nd quarter worth about $541,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Dover during the 2nd quarter valued at about $657,000. Kimelman & Baird LLC bought a new stake in Dover in the second quarter valued at about $21,531,000. Finally, Rakuten Investment Management Inc. bought a new stake in Dover in the second quarter valued at about $4,935,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Down 0.5%

Shares of DOV opened at $189.07 on Thursday. The company has a market capitalization of $25.46 billion, a P/E ratio of 22.78, a PEG ratio of 1.44 and a beta of 1.15. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The business's 50 day simple moving average is $208.58 and its 200-day simple moving average is $214.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

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. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period last year, the firm posted $2.44 EPS. The business's revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, sell-side analysts predict that Dover Corporation will post 10.66 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is currently 25.30%.

Analysts Set New Price Targets

DOV has been the subject of a number of analyst reports. Royal Bank Of Canada cut 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 note on Friday, July 24th. Wolfe Research reissued an "outperform" rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised Dover from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $238.29.

Dover Company 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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