Ieq Capital LLC Buys New Holdings in Dover Corporation $DOV

Ieq Capital LLC purchased a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,702 shares of the industrial products company’s stock, valued at approximately $1,952,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Reflection Asset Management purchased a new position in Dover during the 4th quarter valued at about $26,000. Clearstead Trust LLC purchased a new stake in Dover in the 2nd quarter worth approximately $30,000. MV Capital Management Inc. purchased a new position in shares of Dover during the fourth quarter valued at approximately $29,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Dover during the second quarter valued at approximately $34,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.7%

NYSE:DOV opened at $202.25 on Wednesday. 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 firm’s 50-day moving average price is $211.92 and its 200-day moving average price is $215.49. The company has a market capitalization of $27.24 billion, a PE ratio of 24.37, a P/E/G ratio of 1.55 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54.

Dover (NYSE:DOV) last issued its quarterly earnings results 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 net margin of 13.48% and a return on equity of 18.32%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company posted $2.44 EPS. Dover’s revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, equities analysts predict that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is presently 25.06%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several recent analyst reports. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Royal Bank Of Canada dropped their target price on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Seaport Research Partners boosted their price target on shares of 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 set a $270.00 price objective on Dover in a research report on Friday, July 24th. Finally, Morgan Stanley upped their target price on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

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.