Dover Corporation $DOV Stock Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Dover Corporation (NYSE:DOV) by 193.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,785 shares of the industrial products company’s stock after buying an additional 25,590 shares during the period. State of Alaska Department of Revenue’s holdings in Dover were worth $6,929,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DOV. BlackRock Inc. acquired a new stake in Dover in the 2nd quarter valued at about $2,347,134,000. Bank of New York Mellon Corp raised its stake in shares of Dover by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock worth $631,806,000 after acquiring an additional 150,319 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Dover during the second quarter worth approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Dover by 2.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock worth $217,433,000 after purchasing an additional 20,590 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Dover during the second quarter worth approximately $211,269,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the topic of several research analyst reports. Wells Fargo & Company started coverage on shares of Dover in a research note on Thursday, September 24th. They set an “overweight” rating and a $229.00 price target on the stock. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Finally, Mizuho decreased their price objective on Dover from $270.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $237.93.

Dover Price Performance

Shares of DOV stock opened at $193.99 on Friday. The stock has a 50-day moving average price of $194.76 and a 200 day moving average price of $207.94. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.69 and a beta of 1.13. Dover Corporation has a 12 month low of $163.33 and a 12 month high of $237.54.

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

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, August 31st. Dover’s payout ratio is presently 25.30%.

About Dover

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.