Hsbc Holdings PLC Buys New Stake in Dover Corporation $DOV

Hsbc Holdings PLC purchased a new position in shares of Dover Corporation (NYSE:DOV) in the second quarter, HoldingsChannel reports. The institutional investor purchased 941,695 shares of the industrial products company’s stock, valued at approximately $211,269,000.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Dover in the second quarter valued at $2,347,134,000. Bank of New York Mellon Corp purchased a new stake in shares of Dover during the second quarter worth about $591,207,000. First Trust Advisors LP boosted its holdings in Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the last quarter. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at approximately $275,907,000. Finally, Legal & General Group Plc acquired a new stake in shares of Dover during the second quarter worth approximately $183,574,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DOV. Robert W. Baird set a $270.00 price objective on shares of Dover in a report on Friday, July 24th. Seaport Research Partners lifted their target price on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

Dover Stock Down 0.7%

DOV opened at $202.25 on Wednesday. The stock’s 50 day moving average price is $211.92 and its 200 day moving average price is $215.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The stock has a market cap of $27.24 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.55 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 released its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, research analysts predict that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed 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. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is 25.06%.

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.