Legal & General Group Plc Invests $183.57 Million in Dover Corporation $DOV

Legal & General Group Plc bought a new position in shares of Dover Corporation (NYSE:DOV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 818,502 shares of the industrial products company’s stock, valued at approximately $183,574,000.

Other hedge funds also recently added to or reduced their stakes in the company. Callan Family Office LLC acquired a new position in Dover in the 2nd quarter worth approximately $702,000. Northwestern Mutual Wealth Management Co. lifted its stake in Dover by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock valued at $42,845,000 after acquiring an additional 7,396 shares during the period. Leeward Investments LLC MA boosted its holdings in shares of Dover by 22.2% in the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock valued at $11,160,000 after acquiring an additional 10,377 shares during the last quarter. Independent Financial Group LLC acquired a new stake in shares of Dover in the first quarter worth $1,367,000. Finally, Tredje AP fonden increased its stake in shares of Dover by 5.4% in the fourth quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company’s stock worth $33,590,000 after acquiring an additional 8,774 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of NYSE DOV opened at $204.78 on Thursday. The company has a market capitalization of $27.58 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The company’s fifty day moving average price is $211.61 and its 200 day moving average price is $215.40. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings data 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. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. 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 declared 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 is Monday, August 31st. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 25.06%.

Analyst Ratings Changes

A number of research firms recently issued reports on DOV. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. Royal Bank Of Canada reduced their price objective on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research note on Friday, July 24th. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Finally, Morgan Stanley upped their target price on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

Dover 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.