Dover Corporation $DOV Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Dover Corporation (NYSE:DOV) by 5.0% in the second quarter, Holdings Channel reports. The institutional investor owned 941,695 shares of the industrial products company’s stock after acquiring an additional 44,854 shares during the quarter. Hsbc Holdings PLC’s holdings in Dover were worth $211,269,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Dover in the 2nd quarter worth about $2,347,134,000. State Street Corp lifted its position in shares of Dover by 3.5% during the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after purchasing an additional 227,436 shares during the last quarter. Geode Capital Management LLC grew its stake in Dover by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after purchasing an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dover by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock worth $631,806,000 after purchasing an additional 150,319 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Dover in the second quarter valued at about $625,375,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings cut Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Royal Bank Of Canada decreased their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. Morgan Stanley raised their price objective on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Price Performance

DOV opened at $192.70 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $207.11 and its 200 day moving average price is $213.65. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15.

Dover (NYSE:DOV) last posted its earnings results 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. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, sell-side analysts expect that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. Dover’s payout ratio is 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.