Independent Financial Group LLC Makes New $1.37 Million Investment in Dover Corporation $DOV

Independent Financial Group LLC purchased a new stake in Dover Corporation (NYSE:DOV) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,558 shares of the industrial products company’s stock, valued at approximately $1,367,000.

Several other large investors have also modified their holdings of DOV. Bank of New York Mellon Corp raised its position in shares of Dover by 174.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after purchasing an additional 1,830,722 shares during the last quarter. First Trust Advisors LP increased its position in Dover by 179.7% during the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after buying an additional 1,612,159 shares in the last quarter. Norges Bank purchased a new position in Dover during the fourth quarter worth $275,907,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Dover in the fourth quarter worth $151,473,000. Finally, Auto Owners Insurance Co lifted its position in shares of Dover by 19,424.0% in the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock valued at $14,866,000 after acquiring an additional 757,536 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on DOV shares. Seaport Research Partners lifted their price objective on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird upped their target price on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Barclays lifted their price target 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Finally, Oppenheimer upped their price objective on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.43.

Dover Stock Down 0.1%

Shares of NYSE:DOV opened at $214.04 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $28.82 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.63 and a beta of 1.16. The stock’s 50-day moving average price is $216.30 and its two-hundred day moving average price is $215.16. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

Dover (NYSE:DOV) last posted its quarterly earnings data 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. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, research analysts forecast that Dover Corporation will post 10.65 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors 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 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is 25.94%.

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.