Flputnam Investment Management Co. Acquires New Position in Dover Corporation $DOV

Flputnam Investment Management Co. acquired a new stake in Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel reports. The fund acquired 4,486 shares of the industrial products company’s stock, valued at approximately $1,006,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DOV. Vanguard Group Inc. boosted its position in shares of Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after purchasing an additional 120,341 shares during the last quarter. State Street Corp grew its stake in shares of Dover by 3.5% during the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after purchasing an additional 227,436 shares during the period. Geode Capital Management LLC increased its holdings in Dover by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after purchasing an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Dover by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after buying an additional 150,319 shares during the period. Finally, Nuveen LLC lifted its stake in Dover by 9.9% in the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock valued at $512,169,000 after buying an additional 235,454 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. 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. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Trading Down 0.2%

NYSE DOV opened at $206.71 on Tuesday. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. 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 firm has a market cap of $27.84 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.57 and a beta of 1.16. The stock’s 50-day moving average is $213.95 and its 200-day moving average is $215.73.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) 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 previous year, the firm earned $2.44 EPS. Dover’s quarterly 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 anticipate 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. Stockholders of record on Monday, August 31st will be given a dividend of $0.525 per share. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Dover’s payout ratio is currently 25.06%.

Dover Company 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.