Wealthfront Advisers LLC Takes Position in Dover Corporation $DOV

Wealthfront Advisers LLC acquired a new stake in shares of Dover Corporation (NYSE:DOV) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 28,013 shares of the industrial products company’s stock, valued at approximately $6,283,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOV. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dover by 3.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock valued at $42,845,000 after buying an additional 7,396 shares during the period. Leeward Investments LLC MA grew its holdings in Dover by 22.2% during the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock worth $11,160,000 after acquiring an additional 10,377 shares during the last quarter. Independent Financial Group LLC acquired a new position in Dover in the 1st quarter valued at approximately $1,367,000. Tredje AP fonden raised its stake in shares of Dover by 5.4% during the fourth quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company’s stock valued at $33,590,000 after acquiring an additional 8,774 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Dover by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 315,504 shares of the industrial products company’s stock worth $61,760,000 after purchasing an additional 15,361 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 1.2%

Dover stock opened at $200.05 on Friday. The company has a market capitalization of $26.94 billion, a PE ratio of 24.10, a PEG ratio of 1.54 and a beta of 1.16. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The firm’s fifty day moving average is $212.98 and its 200 day moving average is $215.71. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company posted $2.44 earnings per share. The business’s quarterly 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 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.525 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 25.06%.

Analysts Set New Price Targets

DOV has been the subject of several analyst reports. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Citigroup reiterated a “buy” rating on shares of Dover in a report on Friday, April 24th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Finally, Seaport Research Partners raised their price target on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company 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.