Glenmede Trust Co. NA Grows Position in Dover Corporation $DOV

Glenmede Trust Co. NA grew its holdings in Dover Corporation (NYSE:DOV) by 23.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,306 shares of the industrial products company’s stock after buying an additional 3,277 shares during the period. Glenmede Trust Co. NA’s holdings in Dover were worth $3,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Dover in the fourth quarter valued at approximately $10,195,000. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock worth $42,845,000 after buying an additional 7,396 shares during the last quarter. BIP Wealth LLC acquired a new position in Dover during the fourth quarter worth $538,000. Leeward Investments LLC MA grew its holdings in Dover by 22.2% in the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock valued at $11,160,000 after buying an additional 10,377 shares in the last quarter. Finally, Willis Johnson & Associates Inc. purchased a new stake in Dover in the 4th quarter valued at $1,062,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DOV shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $229.00 price target on shares of Dover in a report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of Dover in a report on Friday, April 24th. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Finally, Morgan Stanley boosted their target price on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Price Performance

NYSE:DOV opened at $210.26 on Wednesday. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The stock’s fifty day moving average is $214.68 and its two-hundred day moving average is $215.60. The company has a market capitalization of $28.32 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.57 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities analysts expect that Dover Corporation will post 10.65 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is 25.06%.

Dover 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.