Man Group plc Buys Shares of 9,041 Dover Corporation $DOV

Man Group plc purchased a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,041 shares of the industrial products company’s stock, valued at approximately $2,028,000.

Several other hedge funds and other institutional investors have also modified their holdings of DOV. BlackRock Inc. acquired a new stake in Dover during the second quarter worth about $2,347,134,000. Bank of New York Mellon Corp acquired a new position in Dover in the second quarter valued at approximately $591,207,000. First Trust Advisors LP grew its holdings in shares of Dover by 179.7% during 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 stake in shares of Dover during the 4th quarter worth approximately $275,907,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Dover in the 2nd quarter worth approximately $211,269,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

DOV stock opened at $189.88 on Wednesday. The company has a 50-day simple moving average of $209.28 and a 200 day simple moving average of $214.50. The company has a market capitalization of $25.57 billion, a P/E ratio of 22.88, a PEG ratio of 1.47 and a beta of 1.15. 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 fifty-two week low of $158.97 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.72 by $0.02. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. Dover’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts predict that Dover Corporation will post 10.67 earnings per share for the current fiscal 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 1.1%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is 25.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOV. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. Wolfe Research reissued an “outperform” rating and set a $262.00 price target on shares of Dover in a report on Thursday, July 9th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.