J. Goldman & Co LP Invests $20.20 Million in Dover Corporation $DOV

J. Goldman & Co LP purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the second quarter, Holdings Channel.com reports. The firm purchased 90,071 shares of the industrial products company’s stock, valued at approximately $20,201,000.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Dover in the 2nd quarter worth approximately $2,347,134,000. Bank of New York Mellon Corp purchased a new position in Dover during the 2nd quarter worth approximately $591,207,000. First Trust Advisors LP raised its stake in Dover by 179.7% during the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the period. Norges Bank purchased a new stake in shares of Dover in the fourth quarter valued at $275,907,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Dover in the second quarter valued at $211,269,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Wolfe Research restated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Finally, Seaport Research Partners upped their target price on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Trading Down 0.7%

NYSE DOV opened at $202.25 on Wednesday. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. 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 company has a market capitalization of $27.24 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The firm’s fifty day simple moving average is $211.92 and its 200-day simple moving average is $215.49.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.21 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, sell-side analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, August 31st. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is presently 25.06%.

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.