Cibc World Market Inc. Takes $1.10 Million Position in Dover Corporation $DOV

Cibc World Market Inc. purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,885 shares of the industrial products company’s stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in shares of Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after buying an additional 89 shares in the last quarter. Reflection Asset Management purchased a new position in shares of Dover in the 4th quarter worth approximately $26,000. MV Capital Management Inc. bought a new position in shares of Dover in the fourth quarter valued at approximately $29,000. Clearstead Trust LLC purchased a new stake in shares of Dover during the second quarter valued at approximately $30,000. Finally, Financial Life Planners purchased a new stake in shares of Dover during the first quarter valued at approximately $31,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on DOV shares. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Morgan Stanley raised their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Wolfe Research reiterated an “outperform” rating and set a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Trading Down 1.3%

NYSE:DOV opened at $201.90 on Friday. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. 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 firm’s 50 day moving average is $211.17 and its 200 day moving average is $215.24. The stock has a market capitalization of $27.19 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

Dover (NYSE:DOV) last announced 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. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the company earned $2.44 earnings per share. Dover’s revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts expect that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The company 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 represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 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.