Cullen Frost Bankers Inc. Trims Stake in Dover Corporation $DOV

Cullen Frost Bankers Inc. lowered its holdings in Dover Corporation (NYSE:DOV) by 80.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,702 shares of the industrial products company’s stock after selling 7,194 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Dover were worth $332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Dover by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after purchasing an additional 120,341 shares during the period. State Street Corp raised its position in Dover by 1.3% in the third quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock valued at $1,089,961,000 after purchasing an additional 86,212 shares during the period. Wellington Management Group LLP raised its position in Dover by 16.1% in the third quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after purchasing an additional 294,856 shares during the period. Franklin Resources Inc. raised its position in Dover by 13.2% in the third quarter. Franklin Resources Inc. now owns 1,664,306 shares of the industrial products company’s stock valued at $277,656,000 after purchasing an additional 193,878 shares during the period. Finally, Fisher Asset Management LLC raised its position in Dover by 4.3% in the third quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company’s stock valued at $272,456,000 after purchasing an additional 67,588 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of research analyst reports. Barclays lifted their target price on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Seaport Research Partners lifted 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 boosted their price objective on Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $210.00 to $230.00 in a report on Tuesday, March 17th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average price target of $237.36.

Dover Trading Up 1.1%

NYSE:DOV opened at $210.10 on Friday. The stock has a 50-day simple moving average of $214.58 and a 200-day simple moving average of $207.02. The stock has a market cap of $28.29 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.58 and a beta of 1.21. 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 0.35, a quick ratio of 1.32 and a current ratio of 1.87.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.01. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

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

About Dover

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.