Nissay Asset Management Corp Japan Cuts Stake in Dover Corporation $DOV

Nissay Asset Management Corp Japan cut its holdings in shares of Dover Corporation (NYSE:DOV) by 38.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,660 shares of the industrial products company’s stock after selling 11,617 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Dover were worth $4,185,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC increased its position in shares of Dover by 5.0% during the second quarter. Hsbc Holdings PLC now owns 941,695 shares of the industrial products company’s stock worth $211,269,000 after acquiring an additional 44,854 shares during the period. Kingsview Wealth Management LLC purchased a new position in Dover in the second quarter valued at $541,000. Beacon Pointe Advisors LLC acquired a new position in Dover during the 2nd quarter worth $657,000. Kimelman & Baird LLC acquired a new position in Dover during the 2nd quarter worth $21,531,000. Finally, Rakuten Investment Management Inc. purchased a new stake in Dover during the 2nd quarter worth about $4,935,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.1%

NYSE:DOV opened at $198.54 on Monday. The stock has a 50-day simple moving average of $210.67 and a 200-day simple moving average of $215.06. The stock has a market cap of $26.74 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.51 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 1.1%. Dover’s dividend payout ratio is 25.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings raised Dover from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 4th. Robert W. Baird set a $270.00 target price on shares of Dover in a research note on Friday, July 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

About Dover

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.