Varma Mutual Pension Insurance Co Acquires Shares of 82,388 Dover Corporation $DOV

Varma Mutual Pension Insurance Co bought a new position in Dover Corporation (NYSE:DOV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 82,388 shares of the industrial products company’s stock, valued at approximately $18,478,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Dover during the second quarter valued at approximately $2,347,134,000. Bank of New York Mellon Corp purchased a new position in Dover in the 2nd quarter worth approximately $591,207,000. First Trust Advisors LP lifted its position in Dover by 179.7% in 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 in the last quarter. Norges Bank bought a new position in Dover in the 4th quarter valued at approximately $275,907,000. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Dover during the 4th quarter valued at $151,473,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $201.96 on Friday. The firm has a 50 day moving average of $212.68 and a 200 day moving average of $215.61. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

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, topping the consensus estimate of $2.72 by $0.02. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is 25.06%.

Analyst Upgrades and Downgrades

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