SummitTX Capital L.P. Makes New $910,000 Investment in Dover Corporation $DOV

SummitTX Capital L.P. acquired a new position in shares of Dover Corporation (NYSE:DOV) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,367 shares of the industrial products company’s stock, valued at approximately $910,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in shares of Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Reflection Asset Management bought a new position in shares of Dover in the 4th quarter valued at about $26,000. MV Capital Management Inc. purchased a new position in Dover in the fourth quarter worth about $29,000. Financial Life Planners purchased a new position in Dover in the first quarter worth about $31,000. Finally, Leonteq Securities AG bought a new stake in Dover during the fourth quarter worth approximately $34,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 3.1%

DOV opened at $204.16 on Friday. The stock has a market cap of $27.50 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.51 and a beta of 1.16. The stock’s 50 day moving average price is $214.98 and its 200-day moving average price is $215.54. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the company earned $2.44 EPS. Dover’s quarterly revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities analysts forecast that Dover Corporation will post 10.64 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s payout ratio is 25.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DOV shares. Seaport Research Partners raised their price objective on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Oppenheimer lifted their price objective on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.29.

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.