Deutsche Bank AG Purchases New Stake in Dover Corporation $DOV

Deutsche Bank AG acquired a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, HoldingsChannel.com reports. The firm acquired 483,636 shares of the industrial products company’s stock, valued at approximately $108,470,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Dover in the 2nd quarter valued at $591,207,000. First Trust Advisors LP raised its holdings in shares of Dover by 179.7% during the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after acquiring an additional 1,612,159 shares during the period. Norges Bank purchased a new position in shares of Dover during the 4th quarter worth $275,907,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Dover during the 4th quarter valued at about $151,473,000. Finally, Auto Owners Insurance Co boosted its position in shares of Dover by 19,424.0% during the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock valued at $14,866,000 after acquiring an additional 757,536 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Down 0.4%

NYSE:DOV opened at $202.29 on Thursday. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The stock’s fifty day moving average is $213.36 and its two-hundred day moving average is $215.72. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last issued 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 business had revenue of $2.19 billion during 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 company’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts anticipate that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

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

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price objective on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Barclays boosted their target price on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Oppenheimer increased their price target on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dover currently 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.