Rockefeller Capital Management L.P. Raises Stake in Dover Corporation $DOV

Rockefeller Capital Management L.P. raised its stake in Dover Corporation (NYSE:DOV) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,911 shares of the industrial products company’s stock after buying an additional 7,315 shares during the period. Rockefeller Capital Management L.P.’s holdings in Dover were worth $22,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new stake in Dover in the third quarter worth about $25,000. Meeder Asset Management Inc. boosted its stake in Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Dover in the 4th quarter worth $26,000. MV Capital Management Inc. acquired a new stake in Dover in the fourth quarter worth about $29,000. Finally, Tompkins Financial Corp grew its position in Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 77 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 2.6%

Shares of Dover stock opened at $229.31 on Tuesday. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The stock has a 50 day moving average of $217.66 and a 200 day moving average of $212.30.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) 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 period in the previous year, the firm earned $2.05 EPS. Dover’s revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, research analysts predict that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s payout ratio is presently 25.94%.

Wall Street Analyst Weigh In

Several analysts have weighed in on DOV shares. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Robert W. Baird increased their price target on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Barclays raised their price objective on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. BMO Capital Markets lifted their target price on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Morgan Stanley boosted their price target on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.85.

About Dover

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.