Public Employees Retirement System of Ohio Takes Position in Dover Corporation $DOV

Public Employees Retirement System of Ohio acquired a new position in shares of Dover Corporation (NYSE:DOV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 43,103 shares of the industrial products company’s stock, valued at approximately $9,667,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DOV. BlackRock Inc. acquired a new position in shares of Dover in the 2nd quarter valued at $2,347,134,000. State Street Corp raised 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 buying an additional 227,436 shares during the period. Geode Capital Management LLC lifted its stake in Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after buying an additional 30,372 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 150,319 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Dover in the second quarter worth approximately $625,375,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 2.4%

NYSE DOV opened at $193.89 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm’s fifty day simple moving average is $209.96 and its 200-day simple moving average is $214.81. The company has a market capitalization of $26.11 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Dover (NYSE:DOV) last released its quarterly earnings data 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. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’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. As a group, sell-side analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOV. Wolfe Research reaffirmed an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Morgan Stanley increased their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $238.29.

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.