Sumitomo Mitsui Trust Group Inc. Sells 11,642 Shares of Dover Corporation $DOV

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Dover Corporation (NYSE:DOV) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 334,767 shares of the industrial products company’s stock after selling 11,642 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Dover worth $69,782,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Dover by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 676 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Dover by 11.8% in the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after acquiring an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Dover in the 2nd quarter valued at approximately $488,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Dover in the 2nd quarter valued at approximately $1,030,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Up 2.0%

NYSE DOV traded up $4.16 on Friday, hitting $215.72. The company’s stock had a trading volume of 1,048,592 shares, compared to its average volume of 1,099,786. The company’s 50-day moving average is $217.20 and its 200 day moving average is $214.53. The firm has a market cap of $29.05 billion, a PE ratio of 26.90, a PEG ratio of 1.64 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year 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.

Dover (NYSE:DOV) last issued its quarterly earnings data 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 company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. Dover’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, analysts predict that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio is presently 25.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wolfe Research reiterated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday. Wells Fargo & Company raised shares of 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 research note on Tuesday, March 17th. Barclays increased their price target on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. BMO Capital Markets raised their price objective on Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Robert W. Baird boosted their price objective on Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.43.

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.