AXQ Capital LP Trims Stake in Dover Corporation $DOV

AXQ Capital LP reduced its position in Dover Corporation (NYSE:DOV) by 56.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,099 shares of the industrial products company’s stock after selling 6,745 shares during the period. AXQ Capital LP’s holdings in Dover were worth $996,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. Norges Bank purchased a new stake in Dover in the 4th quarter worth about $275,907,000. Diamond Hill Capital Management Inc. purchased a new stake in Dover in the 4th quarter worth about $151,473,000. AQR Capital Management LLC raised its position in Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after purchasing an additional 711,471 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Dover by 65.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock worth $219,846,000 after acquiring an additional 520,211 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Dover by 16.1% during the third quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock worth $355,458,000 after acquiring an additional 294,856 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOV. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 price objective on shares of Dover in a report on Friday, April 24th. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $210.00 to $230.00 in a report on Tuesday, March 17th. Robert W. Baird lifted their price objective on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $252.00 target price on shares of Dover in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.36.

Dover Stock Up 2.1%

DOV opened at $211.90 on Wednesday. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. The company has a fifty day moving average of $214.95 and a two-hundred day moving average of $208.55. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.58 and a beta of 1.17.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, research analysts expect that Dover Corporation will post 10.62 earnings per share for the current year.

Dover Dividend Announcement

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

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.