Hsbc Holdings PLC Lowers Stock Holdings in Dover Corporation $DOV

Hsbc Holdings PLC reduced its position in Dover Corporation (NYSE:DOV) by 19.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,000,020 shares of the industrial products company’s stock after selling 241,975 shares during the quarter. Hsbc Holdings PLC’s holdings in Dover were worth $195,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 676 shares in the last quarter. Empowered Funds LLC increased its holdings in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after purchasing an additional 1,580 shares during the period. Sivia Capital Partners LLC acquired a new stake in Dover in the 2nd quarter valued at about $488,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Dover in the 2nd quarter valued at about $1,030,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $213.84 on Friday. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.63 and a beta of 1.16. The business’s 50 day moving average is $218.37 and its two-hundred day moving average is $213.96. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were 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 was Friday, May 29th. Dover’s payout ratio is presently 25.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $252.00 target price on shares of Dover in a report on Friday, April 24th. Robert W. Baird boosted their price target on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a research report on Tuesday, March 17th. Oppenheimer raised their price objective on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Barclays lifted their price objective on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

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.