The Manufacturers Life Insurance Company Sells 6,398 Shares of Dover Corporation $DOV

The Manufacturers Life Insurance Company cut its position in shares of Dover Corporation (NYSE:DOV) by 6.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 93,072 shares of the industrial products company’s stock after selling 6,398 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dover were worth $19,401,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of Dover by 174.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after acquiring an additional 1,830,722 shares during the last quarter. First Trust Advisors LP boosted its holdings in Dover by 179.7% during the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after acquiring an additional 1,612,159 shares during the period. Norges Bank bought a new position in Dover in the 4th quarter valued at $275,907,000. Diamond Hill Capital Management Inc. purchased a new stake in Dover in the fourth quarter worth $151,473,000. Finally, Auto Owners Insurance Co boosted its stake in shares of Dover by 19,424.0% during the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock valued at $14,866,000 after purchasing an additional 757,536 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOV has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Wolfe Research reissued an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, Seaport Research Partners increased their price target on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

Dover Stock Up 0.4%

NYSE:DOV opened at $204.85 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a market cap of $27.59 billion, a PE ratio of 24.68, a P/E/G ratio of 1.56 and a beta of 1.16. The company’s 50 day moving average is $214.88 and its two-hundred day moving average is $215.46.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (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 quarter 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. Analysts anticipate that Dover Corporation will post 10.65 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is currently 25.06%.

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.