Tocqueville Asset Management L.P. Buys New Stake in Dover Corporation $DOV

Tocqueville Asset Management L.P. purchased a new position in shares of Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,650 shares of the industrial products company’s stock, valued at approximately $1,267,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of Dover by 234.2% in the 4th 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 last quarter. Reflection Asset Management purchased a new stake in Dover during the fourth quarter worth approximately $26,000. Clearstead Trust LLC purchased a new stake in Dover during the second quarter worth approximately $30,000. MV Capital Management Inc. acquired a new position in Dover in the fourth quarter valued at approximately $29,000. Finally, Financial Life Planners purchased a new position in Dover in the first quarter valued at approximately $31,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 1.2%

DOV opened at $200.05 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The business’s 50 day moving average is $212.98 and its two-hundred day moving average is $215.71. The firm has a market cap of $26.94 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.02. The business had revenue of $2.19 billion during 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 was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts predict that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is currently 25.06%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Oppenheimer increased their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Finally, Wolfe Research reissued an “outperform” rating and issued a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average 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.