Kimelman & Baird LLC Invests $21.53 Million in Dover Corporation $DOV

Kimelman & Baird LLC acquired a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel reports. The fund acquired 96,000 shares of the industrial products company’s stock, valued at approximately $21,531,000.

Several other large investors have also made changes to their positions in DOV. BlackRock Inc. acquired a new position in shares of Dover in the 2nd quarter valued at $2,347,134,000. Bank of America Corp DE bought a new position in Dover in the second quarter valued at approximately $625,375,000. Bank of New York Mellon Corp acquired a new position in Dover during the second quarter worth approximately $591,207,000. First Trust Advisors LP lifted its stake in shares of Dover by 179.7% during the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after buying an additional 1,612,159 shares during the last quarter. Finally, Norges Bank acquired a new stake in Dover during the fourth quarter worth approximately $275,907,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $198.54 on Friday. 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 has a market capitalization of $26.74 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a 50-day simple moving average of $210.67 and a 200 day simple moving average of $215.13. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business earned $2.44 earnings per share. The company’s quarterly 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 EPS 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 paid a $0.525 dividend. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. Dover’s payout ratio is 25.06%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Morgan Stanley lifted their price objective on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Wolfe Research reissued an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Royal Bank Of Canada lowered 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. Robert W. Baird set a $270.00 target price on Dover in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.