Rakuten Investment Management Inc. Buys Shares of 22,033 Dover Corporation $DOV

Rakuten Investment Management Inc. bought a new position in Dover Corporation (NYSE:DOV) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,033 shares of the industrial products company’s stock, valued at approximately $4,935,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOV. BlackRock Inc. bought a new stake in shares of Dover in the second quarter valued at about $2,347,134,000. State Street Corp grew its holdings in Dover by 3.5% during the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after acquiring an additional 227,436 shares in the last quarter. Geode Capital Management LLC grew its holdings in Dover by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after acquiring an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp increased its position in Dover by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after purchasing an additional 150,319 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Dover in the 2nd quarter valued at about $625,375,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DOV. Morgan Stanley increased their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Robert W. Baird set a $270.00 price objective on shares of Dover in a research note on Friday, July 24th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Royal Bank Of Canada dropped their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a 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. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

Dover Trading Down 1.6%

NYSE DOV opened at $198.54 on Friday. Dover Corporation has a 1 year low of $158.97 and a 1 year 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 company has a market capitalization of $26.74 billion, a PE ratio of 23.92, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a fifty day moving average of $210.67 and a 200 day moving average of $215.13.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is presently 25.06%.

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.