Diamond Hill Capital Management Inc. Buys Shares of 775,831 Dover Corporation $DOV

Diamond Hill Capital Management Inc. acquired a new stake in Dover Corporation (NYSE:DOV) in the 4th quarter, Holdings Channel reports. The firm acquired 775,831 shares of the industrial products company’s stock, valued at approximately $151,473,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. Financial Life Planners purchased a new position in shares of Dover in the 3rd quarter valued at about $25,000. Tompkins Financial Corp boosted its stake in shares of Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares during the period. Leonteq Securities AG purchased a new position in shares of Dover in the 4th quarter valued at about $34,000. Westside Investment Management Inc. boosted its stake in shares of Dover by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after buying an additional 114 shares during the period. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the subject of several recent research reports. Oppenheimer lifted their price objective on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. BMO Capital Markets lifted their price objective on Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley set a $210.00 price objective on Dover in a research note on Wednesday, February 4th. Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $229.00 target price on shares of Dover in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.36.

Dover Price Performance

DOV stock opened at $207.93 on Friday. The business has a 50 day moving average price of $214.58 and a 200 day moving average price of $207.00. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.61 and a beta of 1.21. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.01. The firm 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

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.