The Manufacturers Life Insurance Company Acquires New Position in Dover Corporation $DOV

The Manufacturers Life Insurance Company acquired a new position in shares of Dover Corporation (NYSE:DOV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 67,684 shares of the industrial products company’s stock, valued at approximately $15,180,000. The Manufacturers Life Insurance Company owned about 0.05% of Dover at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Dover during the 2nd quarter valued at approximately $2,347,134,000. State Street Corp lifted its holdings in Dover by 3.5% in the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after acquiring an additional 227,436 shares during the last quarter. Geode Capital Management LLC grew its position in Dover by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after acquiring an additional 30,372 shares during the period. Bank of New York Mellon Corp increased its stake in Dover by 5.2% during 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 acquiring an additional 150,319 shares during the last quarter. Finally, Nuveen LLC increased its stake in Dover by 9.9% during the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock worth $512,169,000 after acquiring an additional 235,454 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOV shares. Robert W. Baird set a $270.00 price target on Dover in a research note on Friday, July 24th. Royal Bank Of Canada cut their price objective on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Wolfe Research restated an “outperform” rating and issued a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Morgan Stanley increased their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Performance

Shares of Dover stock opened at $198.54 on Friday. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. 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 business has a 50-day moving average of $210.67 and a 200 day moving average of $215.13. Dover Corporation has a 12 month low of $158.97 and a 12 month 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, topping 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, sell-side analysts forecast that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.525 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio (DPR) is currently 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.