Dover Corporation $DOV Stock Position Reduced by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in shares of Dover Corporation (NYSE:DOV) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 144,182 shares of the industrial products company’s stock after selling 11,615 shares during the period. Welch & Forbes LLC’s holdings in Dover were worth $28,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Machina Capital S.A.S. grew its position in Dover by 91.8% during the third quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 8,055 shares in the last quarter. Federated Hermes Inc. grew its position in Dover by 17.3% during the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock valued at $7,224,000 after purchasing an additional 6,399 shares in the last quarter. NEOS Investment Management LLC grew its position in Dover by 53.1% during the third quarter. NEOS Investment Management LLC now owns 13,741 shares of the industrial products company’s stock valued at $2,292,000 after purchasing an additional 4,766 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Dover by 15.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,470 shares of the industrial products company’s stock valued at $8,442,000 after purchasing an additional 5,514 shares in the last quarter. Finally, Pensionfund Sabic purchased a new position in Dover during the fourth quarter valued at approximately $1,230,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

DOV stock opened at $211.35 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 1.61 and a beta of 1.21. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The firm has a 50 day moving average of $215.02 and a two-hundred day moving average of $208.20.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.01. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. Dover’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, equities analysts anticipate that Dover Corporation will post 10.62 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Dover’s dividend payout ratio is currently 25.94%.

Analysts Set New Price Targets

Several research firms have commented on DOV. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a research report on Saturday, January 31st. Weiss Ratings downgraded shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Barclays boosted their target price on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Finally, BMO Capital Markets boosted their target price on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $237.36.

Dover 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.