Strs Ohio Boosts Stake in Dover Corporation $DOV

Strs Ohio grew its holdings in shares of Dover Corporation (NYSE:DOV) by 17.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,343 shares of the industrial products company’s stock after acquiring an additional 47,995 shares during the period. Strs Ohio’s holdings in Dover were worth $67,609,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Keybank National Association OH increased its holdings in Dover by 2.0% during the 1st quarter. Keybank National Association OH now owns 29,759 shares of the industrial products company’s stock worth $6,203,000 after purchasing an additional 582 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Dover by 22.4% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $73,000 after buying an additional 64 shares during the last quarter. Financial Life Planners acquired a new stake in Dover in the first quarter valued at $31,000. Lansforsakringar Fondforvaltning AB publ boosted its stake in Dover by 1.4% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 44,878 shares of the industrial products company’s stock valued at $9,355,000 after acquiring an additional 609 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Dover by 13.6% during the 1st quarter. Apollon Wealth Management LLC now owns 6,405 shares of the industrial products company’s stock valued at $1,335,000 after acquiring an additional 766 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 1.5%

NYSE:DOV opened at $213.84 on Friday. The firm has a market capitalization of $28.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.65 and a beta of 1.16. The business has a 50 day simple moving average of $218.43 and a 200 day simple moving average of $213.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

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

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is 25.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DOV shares. Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Morgan Stanley increased their target price on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada restated a “sector perform” rating and set a $252.00 price objective on shares of Dover in a research note on Friday, April 24th. Finally, BMO Capital Markets increased their target price on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.85.

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.