Freestone Grove Partners LP Buys Shares of 196,788 Dover Corporation $DOV

Freestone Grove Partners LP bought a new position in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 196,788 shares of the industrial products company’s stock, valued at approximately $44,136,000. Freestone Grove Partners LP owned 0.15% of Dover as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of DOV. Meeder Asset Management Inc. lifted its holdings in Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of Dover during the 4th quarter worth approximately $26,000. Clearstead Trust LLC bought a new stake in shares of Dover in the 2nd quarter worth approximately $30,000. MV Capital Management Inc. bought a new stake in shares of Dover in the 4th quarter worth approximately $29,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Dover during the 2nd quarter valued at approximately $34,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wolfe Research reaffirmed an “outperform” rating and issued a $262.00 target price on shares of Dover in a research report on Thursday, July 9th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Royal Bank Of Canada dropped their price objective on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.29.

Dover Stock Performance

Shares of DOV stock opened at $204.78 on Thursday. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market capitalization of $27.58 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The business has a 50 day simple moving average of $211.61 and a 200 day simple moving average of $215.40.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities research analysts anticipate that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.525 per share. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is presently 25.06%.

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.