Van ECK Associates Corp Takes Position in Dover Corporation $DOV

Van ECK Associates Corp purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the 2nd quarter, Holdings Channel reports. The fund purchased 21,503 shares of the industrial products company’s stock, valued at approximately $4,823,000.

Several other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Reflection Asset Management acquired a new stake in shares of Dover during the 4th quarter worth approximately $26,000. MV Capital Management Inc. bought a new stake in shares of Dover during the fourth quarter worth approximately $29,000. Clearstead Trust LLC bought a new stake in shares of Dover during the second quarter worth approximately $30,000. Finally, Financial Life Planners bought a new position in Dover in the first quarter valued at approximately $31,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Morgan Stanley upped their price objective on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Wolfe Research restated an “outperform” rating and set a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. Finally, Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

Dover Price Performance

DOV opened at $189.07 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The company has a fifty day simple moving average of $208.58 and a 200 day simple moving average of $214.21. The stock has a market cap of $25.46 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.44 and a beta of 1.15.

Dover (NYSE:DOV) last posted its 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. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company’s revenue for the quarter 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 expect that Dover Corporation will post 10.66 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 25.30%.

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.