OP Asset Management Ltd Invests $3.36 Million in Dover Corporation $DOV

OP Asset Management Ltd purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,105 shares of the industrial products company’s stock, valued at approximately $3,357,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after acquiring an additional 120,341 shares in the last quarter. State Street Corp raised its holdings in Dover by 3.5% in the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after purchasing an additional 227,436 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dover by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after buying an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Dover by 174.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after buying an additional 1,830,722 shares during the period. Finally, Nuveen LLC boosted its stake in Dover by 9.9% during the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock worth $512,169,000 after acquiring an additional 235,454 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of analyst reports. Barclays raised their target price on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $210.00 to $230.00 in a report on Tuesday, March 17th. Morgan Stanley increased 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. BMO Capital Markets raised their price target on Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Oppenheimer lifted their price target on Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Dover Stock Down 2.0%

Shares of Dover stock opened at $226.08 on Friday. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $218.34 and its 200 day moving average is $213.15. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Research analysts anticipate that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover’s dividend payout ratio is currently 25.94%.

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.