Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Dover Corporation $DOV

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 350,031 shares of the industrial products company’s stock, valued at approximately $78,505,000.

Several other large investors have also recently bought and sold shares of DOV. Meeder Asset Management Inc. boosted its position in shares of Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management acquired a new position in shares of Dover during the 4th quarter worth $26,000. MV Capital Management Inc. purchased a new position in shares of Dover in the 4th quarter valued at about $29,000. Clearstead Trust LLC acquired a new stake in shares of Dover in the second quarter valued at about $30,000. Finally, Financial Life Planners acquired a new stake in shares of Dover in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on DOV. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Citigroup reiterated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Royal Bank Of Canada decreased their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Ten 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 has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Performance

Shares of DOV opened at $203.23 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $27.37 billion, a P/E ratio of 24.49, a PEG ratio of 1.57 and a beta of 1.16. The company has a 50-day moving average of $213.60 and a two-hundred day moving average of $215.72. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, research analysts predict that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 25.30%.

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.