State of Wyoming Takes $608,000 Position in Dover Corporation $DOV

State of Wyoming bought a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,713 shares of the industrial products company’s stock, valued at approximately $608,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Reflection Asset Management purchased a new stake in Dover in the 4th quarter valued at $26,000. MV Capital Management Inc. acquired a new stake in Dover during the 4th quarter worth $29,000. Clearstead Trust LLC acquired a new stake in Dover during the 2nd quarter worth $30,000. Finally, Financial Life Planners purchased a new position in Dover during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $207.08 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $214.14 and a 200-day simple moving average of $215.74. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. 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 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. 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, equities analysts forecast that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.525 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. 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%. Dover’s dividend payout ratio is currently 25.06%.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research reports. Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

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.