Sumitomo Mitsui Trust Group Inc. Has $69.78 Million Stake in Dover Corporation $DOV

Sumitomo Mitsui Trust Group Inc. reduced its position in Dover Corporation (NYSE:DOV) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334,767 shares of the industrial products company’s stock after selling 11,642 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Dover were worth $69,782,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of DOV. Quantum Portfolio Management LLC lifted its holdings in Dover by 6.9% in the first quarter. Quantum Portfolio Management LLC now owns 5,800 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 375 shares during the period. Cvfg LLC acquired a new stake in Dover during the 1st quarter worth about $1,677,000. Abel Hall LLC raised its position in shares of Dover by 15.0% in the 1st quarter. Abel Hall LLC now owns 1,394 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 182 shares in the last quarter. Fortune 45 LLC bought a new position in shares of Dover in the 1st quarter worth about $830,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Dover in the 1st quarter valued at about $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 2.0%

NYSE:DOV traded up $4.16 on Friday, hitting $215.72. The stock had a trading volume of 1,048,592 shares, compared to its average volume of 1,099,786. 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 Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The business’s fifty day moving average is $217.20 and its 200 day moving average is $214.53. The company has a market cap of $29.05 billion, a PE ratio of 26.90, a P/E/G ratio of 1.64 and a beta of 1.16.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating 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 firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities research analysts expect that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 29th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is presently 25.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOV shares. Citigroup reaffirmed a “buy” rating on shares of Dover in a research note on Friday, April 24th. Oppenheimer boosted their price target 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 raised their price objective on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $229.00 price objective on shares of Dover in a research note on Friday, April 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $252.00 target price on shares of Dover in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.43.

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.