Westpac Banking Corp Takes Position in Dover Corporation $DOV

Westpac Banking Corp bought a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,962 shares of the industrial products company’s stock, valued at approximately $4,926,000.

Other institutional investors have also recently bought and sold shares of the company. True North Advisors LLC increased its holdings in Dover by 2.9% in the 1st quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock valued at $336,000 after buying an additional 45 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of Dover by 0.7% during the 4th quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock worth $1,472,000 after acquiring an additional 51 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Dover by 3.5% during the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 53 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of Dover by 2.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock valued at $489,000 after acquiring an additional 56 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in Dover by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company’s stock valued at $975,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 1.0%

Shares of DOV opened at $201.96 on Friday. The company has a market capitalization of $27.20 billion, a P/E ratio of 24.33, a PEG ratio of 1.52 and a beta of 1.16. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The business’s 50 day simple moving average is $212.68 and its 200-day simple moving average is $215.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.21 billion. During the same period last year, the firm posted $2.44 EPS. The business’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. As a group, sell-side analysts predict that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced 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 represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio is 25.30%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOV. Royal Bank Of Canada dropped their price target on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. Finally, Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Dover has an average 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.