J. Goldman & Co LP Purchases Shares of 90,071 Dover Corporation $DOV

J. Goldman & Co LP acquired a new position in shares of Dover Corporation (NYSE:DOV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 90,071 shares of the industrial products company’s stock, valued at approximately $20,201,000. J. Goldman & Co LP owned 0.07% of Dover at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Reflection Asset Management bought a new stake in shares of Dover during the fourth quarter valued at about $26,000. MV Capital Management Inc. acquired a new stake in Dover in the fourth quarter worth about $29,000. Clearstead Trust LLC bought a new position in Dover in the 2nd quarter valued at about $30,000. Finally, Financial Life Planners acquired a new position in Dover during the 1st quarter valued at about $31,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Royal Bank Of Canada cut 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. Morgan Stanley increased their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

Dover Trading Down 0.7%

Dover stock opened at $202.25 on Wednesday. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The firm’s 50 day moving average price is $211.92 and its two-hundred day moving average price is $215.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 EPS 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 the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, 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. Stockholders of record on Monday, August 31st will be issued a dividend of $0.525 per share. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Dover’s dividend payout ratio (DPR) is currently 25.06%.

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.