255,306 Shares in Dover Corporation $DOV Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 255,306 shares of the industrial products company’s stock, valued at approximately $57,260,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Dover in the second quarter valued at about $2,347,134,000. Bank of New York Mellon Corp acquired a new position in Dover during the second quarter worth about $591,207,000. First Trust Advisors LP increased its holdings in Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after buying an additional 1,612,159 shares in the last quarter. Norges Bank acquired a new stake in shares of Dover during the 4th quarter valued at approximately $275,907,000. Finally, Legal & General Group Plc acquired a new stake in shares of Dover during the 2nd quarter valued at approximately $183,574,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 1.3%

Shares of DOV stock opened at $201.90 on Friday. The company has a market capitalization of $27.19 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.55 and a beta of 1.16. 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 50-day moving average price of $211.17 and a 200 day moving average price of $215.24. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.48% and a return on equity of 18.32%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts forecast that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is 25.06%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOV. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.