Royal Bank of Canada Raises Stock Position in Dover Corporation $DOV

Royal Bank of Canada lifted its holdings in Dover Corporation (NYSE:DOV) by 9.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 225,909 shares of the industrial products company’s stock after buying an additional 18,997 shares during the period. Royal Bank of Canada’s holdings in Dover were worth $47,090,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Reflection Asset Management purchased a new stake in Dover during the fourth quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in Dover during the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in shares of Dover in the 1st quarter valued at approximately $31,000. Finally, Leonteq Securities AG purchased a new position in shares of Dover in the 4th quarter worth approximately $34,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.1%

Shares of DOV opened at $204.85 on Monday. The firm has a fifty day moving average price of $214.88 and a 200-day moving average price of $215.55. 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 firm has a market capitalization of $27.59 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.56 and a beta of 1.16. 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 data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts expect that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.52 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s payout ratio is presently 25.06%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DOV shares. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Barclays boosted their price objective on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Finally, Seaport Research Partners upped their price target on shares of 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $238.29.

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.