Carnegie Investment Counsel Sells 5,182 Shares of Dover Corporation $DOV

Carnegie Investment Counsel cut its stake in shares of Dover Corporation (NYSE:DOV) by 70.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,168 shares of the industrial products company’s stock after selling 5,182 shares during the quarter. Carnegie Investment Counsel’s holdings in Dover were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Dover by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after buying an additional 120,341 shares during the period. State Street Corp lifted its stake in shares of Dover by 3.5% in 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 acquiring an additional 227,436 shares during the period. Geode Capital Management LLC boosted its holdings 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 valued at $684,348,000 after acquiring an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Dover by 174.4% in the fourth 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 during the last quarter. Finally, Nuveen LLC increased its position in Dover by 9.9% during the 4th quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock valued at $512,169,000 after purchasing an additional 235,454 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Seaport Research Partners increased their price objective on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird lifted their target price on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.43.

Dover Price Performance

Shares of DOV opened at $214.31 on Wednesday. The firm has a market cap of $28.86 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The business’s 50 day moving average price is $216.78 and its two-hundred day moving average price is $214.84. 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 (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.27 by $0.01. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities analysts anticipate that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover’s dividend payout ratio (DPR) is presently 25.94%.

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.