Wellington Management Group LLP Sells 17,585 Shares of Dover Corporation $DOV

Wellington Management Group LLP lowered its position in shares of Dover Corporation (NYSE:DOV) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,740,986 shares of the industrial products company’s stock after selling 17,585 shares during the period. Wellington Management Group LLP’s holdings in Dover were worth $390,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Callan Family Office LLC bought a new position in Dover during the 2nd quarter valued at approximately $702,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dover by 3.5% during 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 raised its holdings in shares of Dover by 22.2% during the fourth quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock valued at $11,160,000 after acquiring an additional 10,377 shares in the last quarter. Independent Financial Group LLC bought a new stake in Dover in the first quarter valued at $1,367,000. Finally, Tredje AP fonden boosted its holdings in Dover by 5.4% in 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 in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 1.6%

DOV stock opened at $198.54 on Friday. The business has a 50 day moving average of $210.67 and a 200 day moving average of $215.13. The firm has a market cap of $26.74 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. 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 issued its quarterly earnings results 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company earned $2.44 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts forecast that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The firm 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 $0.525 dividend. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is presently 25.06%.

Analysts Set New Price Targets

Several brokerages have commented on DOV. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Weiss Ratings upgraded shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Robert W. Baird set a $270.00 price target on shares of Dover in a research note on Friday, July 24th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Morgan Stanley lifted their price objective on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.29.

About Dover

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.