Rice Hall James & Associates LLC Makes New Investment in Dover Corporation $DOV

Rice Hall James & Associates LLC acquired a new position in Dover Corporation (NYSE:DOV) in the second quarter, Holdings Channel.com reports. The firm acquired 4,508 shares of the industrial products company’s stock, valued at approximately $1,011,000.

A number of other large investors also recently modified their holdings of DOV. Bank of New York Mellon Corp bought a new stake in Dover in the 2nd quarter worth approximately $591,207,000. First Trust Advisors LP grew its position in 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 acquiring an additional 1,612,159 shares during the last quarter. Norges Bank purchased a new position in shares of Dover during the fourth quarter worth approximately $275,907,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Dover in the 4th quarter worth approximately $151,473,000. Finally, Auto Owners Insurance Co lifted its holdings in shares of Dover by 19,424.0% in the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after acquiring an additional 757,536 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 1.6%

NYSE:DOV opened at $203.23 on Wednesday. The company has a fifty day moving average of $213.60 and a 200 day moving average of $215.72. Dover Corporation has a 52 week low of $158.97 and a 52 week 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. The firm has a market capitalization of $27.37 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.57 and a beta of 1.16.

Dover (NYSE:DOV) last announced 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm earned $2.44 EPS. 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 predict that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is 25.30%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DOV shares. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Seaport Research Partners raised their price objective on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Finally, Wolfe Research restated an “outperform” rating and set a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

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.