CIBC Asset Management Inc Has $6.29 Million Stake in Dover Corporation $DOV

CIBC Asset Management Inc raised its position in Dover Corporation (NYSE:DOV) by 68.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,189 shares of the industrial products company’s stock after purchasing an additional 13,101 shares during the quarter. CIBC Asset Management Inc’s holdings in Dover were worth $6,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings 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 valued at $562,419,000 after acquiring an additional 1,830,722 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Dover by 24.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 726,774 shares of the industrial products company’s stock worth $141,895,000 after purchasing an additional 142,171 shares during the period. Fiduciary Family Office LLC grew its holdings in Dover by 13.8% during the fourth quarter. Fiduciary Family Office LLC now owns 1,853 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 225 shares during the period. Natixis Advisors LLC lifted its position in Dover by 13.6% during the fourth quarter. Natixis Advisors LLC now owns 93,284 shares of the industrial products company’s stock worth $18,213,000 after acquiring an additional 11,183 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in Dover by 1.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,333 shares of the industrial products company’s stock worth $1,236,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE DOV opened at $214.93 on Friday. The firm’s 50-day moving average price is $214.98 and its 200-day moving average price is $209.23. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a market capitalization of $28.94 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.64 and a beta of 1.17. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts anticipate that Dover Corporation will post 10.64 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be 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 is Friday, May 29th. Dover’s dividend payout ratio is currently 25.94%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Sunday. Barclays boosted their price objective on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Oppenheimer boosted their price objective on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. BMO Capital Markets boosted their target price on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Morgan Stanley boosted their price objective on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $238.79.

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.