Dover Corporation $DOV Position Cut by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its position in shares of Dover Corporation (NYSE:DOV) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,682 shares of the industrial products company’s stock after selling 4,527 shares during the quarter. Griffin Asset Management Inc.’s holdings in Dover were worth $10,356,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Financial Life Planners bought a new position in Dover in the 3rd quarter worth about $25,000. Meeder Asset Management Inc. raised its holdings in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Reflection Asset Management bought a new stake in shares of Dover during the fourth quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in shares of Dover during the fourth quarter worth approximately $29,000. Finally, Tompkins Financial Corp grew its holdings in Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after buying an additional 77 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Seaport Research Partners raised their target price on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird increased their price target on Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings lowered Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Barclays lifted their price objective on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, BMO Capital Markets upped their price objective on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.43.

Dover Stock Performance

Shares of NYSE DOV opened at $211.42 on Friday. The stock’s fifty day simple moving average is $217.33 and its 200 day simple moving average is $214.52. The stock has a market capitalization of $28.47 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.61 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Dover’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. As a group, sell-side analysts forecast that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

Dover Company 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.