Y Intercept Hong Kong Ltd Buys New Position in Dover Corporation $DOV

Y Intercept Hong Kong Ltd purchased a new position in Dover Corporation (NYSE:DOV) during the 1st quarter, Holdings Channel reports. The fund purchased 9,406 shares of the industrial products company’s stock, valued at approximately $1,961,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Dover by 125.2% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,515 shares of the industrial products company’s stock worth $7,612,000 after purchasing an additional 20,300 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in Dover by 17.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,305 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 195 shares in the last quarter. Patten Group Inc. grew its holdings in Dover by 1.4% during the first quarter. Patten Group Inc. now owns 5,070 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 70 shares during the period. Strs Ohio grew its holdings in Dover by 17.4% during the first quarter. Strs Ohio now owns 324,343 shares of the industrial products company’s stock valued at $67,609,000 after purchasing an additional 47,995 shares during the period. Finally, Keybank National Association OH raised its stake in shares of Dover by 2.0% in the first quarter. Keybank National Association OH now owns 29,759 shares of the industrial products company’s stock worth $6,203,000 after buying an additional 582 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $211.32 on Thursday. The stock has a 50-day moving average price of $217.59 and a 200 day moving average price of $214.41. The stock has a market capitalization of $28.46 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.63 and a beta of 1.16. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $2.05 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 25.94%.

Analyst Ratings Changes

DOV has been the topic of a number of analyst reports. Barclays lifted their price objective on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Morgan Stanley raised their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Citigroup reiterated a “buy” rating on shares of Dover in a research report on Friday, April 24th. BMO Capital Markets increased their price objective on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company upgraded shares of Dover from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $210.00 to $230.00 in a research report on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.85.

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.