SIR Capital Management L.P. Acquires Shares of 18,400 Dover Corporation $DOV

SIR Capital Management L.P. acquired a new stake in Dover Corporation (NYSE:DOV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 18,400 shares of the industrial products company’s stock, valued at approximately $3,592,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. Bank of New York Mellon Corp lifted its stake in Dover by 174.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after buying an additional 1,830,722 shares during the last quarter. Norges Bank purchased a new stake in Dover in the fourth quarter valued at approximately $275,907,000. Diamond Hill Capital Management Inc. purchased a new stake in Dover in the fourth quarter valued at approximately $151,473,000. AQR Capital Management LLC lifted its stake in Dover by 912.9% in the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after buying an additional 711,471 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Dover by 65.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock valued at $219,846,000 after buying an additional 520,211 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DOV shares. Citigroup reiterated a “buy” rating on shares of Dover in a research note on Friday, April 24th. BMO Capital Markets upped their price target on Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley upped their price target on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $210.00 to $230.00 in a research note on Tuesday, March 17th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Dover Price Performance

Dover stock opened at $217.07 on Friday. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The business has a 50 day simple moving average of $216.04 and a 200-day simple moving average of $210.53. The stock has a market capitalization of $29.23 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17.

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

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Dover’s dividend payout ratio is currently 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.