Hanson & Doremus Investment Management Acquires 3,480 Shares of Dover Corporation $DOV

Hanson & Doremus Investment Management increased its position in shares of Dover Corporation (NYSE:DOV) by 50.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,321 shares of the industrial products company’s stock after purchasing an additional 3,480 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Dover were worth $1,888,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DOV. Pension & Wealth Management Advisors Inc. grew its position in shares of Dover by 769.1% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 2,364 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 2,092 shares in the last quarter. Annex Advisory Services LLC lifted its stake in shares of Dover by 18.9% in the 3rd quarter. Annex Advisory Services LLC now owns 2,929 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 466 shares during the last quarter. NFSG Corp purchased a new position in shares of Dover in the third quarter worth $55,000. V Square Quantitative Management LLC grew its position in shares of Dover by 12.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,455 shares of the industrial products company’s stock worth $833,000 after buying an additional 486 shares during the last quarter. Finally, Community Financial Services Group LLC lifted its position in shares of Dover by 50.0% in the 3rd quarter. Community Financial Services Group LLC now owns 315 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 105 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 0.9%

Shares of NYSE DOV opened at $195.80 on Friday. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 1.70 and a beta of 1.13. 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’s 50-day moving average price is $194.46 and its 200-day moving average price is $207.85. Dover Corporation has a 12-month low of $164.73 and a 12-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 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. The firm had revenue of $2.19 billion during 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 in the previous year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts anticipate that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a $0.5250 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 25.30%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on Dover in a research report on Thursday, September 24th. They issued an “overweight” rating and a $229.00 target price for the company. Royal Bank Of Canada dropped their price target on shares of Dover from $227.00 to $216.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Finally, Wolfe Research reissued an “outperform” rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.93.

Dover Company Profile

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.