Dover Corporation $DOV Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC grew its position in Dover Corporation (NYSE:DOV) by 1,356.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,989 shares of the industrial products company’s stock after buying an additional 24,204 shares during the quarter. Squarepoint Ops LLC’s holdings in Dover were worth $5,829,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DOV. California State Teachers Retirement System boosted its position in Dover by 17,645.5% during the second quarter. California State Teachers Retirement System now owns 39,632,967 shares of the industrial products company’s stock worth $8,888,882,000 after acquiring an additional 39,409,626 shares during the last quarter. BlackRock Inc. acquired a new position in Dover during the second quarter worth $2,347,134,000. State Street Corp grew its holdings in Dover by 3.5% in the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after buying an additional 227,436 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Dover by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after acquiring an additional 30,372 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Dover by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock worth $631,806,000 after acquiring an additional 150,319 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOV. Morgan Stanley upped their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings lowered shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Finally, Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Up 0.8%

Shares of DOV opened at $188.94 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 stock has a market capitalization of $25.45 billion, a PE ratio of 22.76, a P/E/G ratio of 1.42 and a beta of 1.15. The company’s 50-day simple moving average is $204.34 and its 200-day simple moving average is $212.33. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54.

Dover (NYSE:DOV) last announced 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. The firm 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 firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts forecast that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 25.30%.

Dover Profile

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company’s products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.