State of Wyoming Takes $608,000 Position in Dover Corporation $DOV

State of Wyoming purchased a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,713 shares of the industrial products company’s stock, valued at approximately $608,000.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 676 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Dover by 11.8% in the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after buying an additional 1,580 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Dover in the 2nd quarter worth about $488,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Dover in the 2nd quarter valued at about $1,030,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Dover stock opened at $207.08 on Monday. The stock has a fifty day moving average price of $214.14 and a 200 day moving average price of $215.74. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The firm has a market capitalization of $27.89 billion, a P/E ratio of 24.95, a PEG ratio of 1.57 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.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. 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. Equities research analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business 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 $0.525 dividend. This is a boost 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 is 25.06%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Oppenheimer raised their target price on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Seaport Research Partners raised their price objective on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada cut their price objective 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. Finally, Wolfe Research reiterated an “outperform” rating and set a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

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.