Wesbanco Bank Inc. Takes $3.01 Million Position in Dover Corporation $DOV

Wesbanco Bank Inc. bought a new position in Dover Corporation (NYSE:DOV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,456 shares of the industrial products company’s stock, valued at approximately $3,013,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. Financial Life Planners bought a new position in shares of Dover during the third quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its stake in shares of Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Reflection Asset Management purchased a new position in Dover during the 4th quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in Dover in the fourth quarter worth $29,000. Finally, Tompkins Financial Corp increased its stake in Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 2.0%

NYSE:DOV opened at $226.08 on Friday. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The company has a 50-day moving average of $218.34 and a 200 day moving average of $213.15. The firm has a market cap of $30.44 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, research analysts anticipate that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is presently 25.94%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DOV shares. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $229.00 price objective on shares of Dover in a report on Friday, April 24th. Seaport Research Partners boosted their price objective on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Morgan Stanley lifted their price target on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.85.

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.