First Trust Advisors LP Has $467.29 Million Holdings in Dover Corporation $DOV

by · The Cerbat Gem

First Trust Advisors LP decreased its holdings in Dover Corporation (NYSE:DOV – Free Report) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,241,753 shares of the industrial products company’s stock after selling 267,464 shares during the period. First Trust Advisors LP’s holdings in Dover were worth $467,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Dover by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after acquiring an additional 120,341 shares during the last quarter. State Street Corp lifted its holdings in Dover by 3.5% during the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Dover by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after purchasing an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 150,319 shares during the period. Finally, Nuveen LLC increased its holdings in shares of Dover by 9.9% in the fourth quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock valued at $512,169,000 after purchasing an additional 235,454 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DOV shares. Robert W. Baird raised their target price on shares of Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. BMO Capital Markets upped their price target on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Seaport Research Partners increased their price target on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.43.

Read Our Latest Stock Report on Dover

Dover Stock Performance

NYSE DOV opened at $211.30 on Wednesday. The firm has a 50-day moving average price of $215.98 and a two-hundred day moving average price of $215.36. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a market capitalization of $28.45 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.59 and a beta of 1.16. 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 – Get Free Report) last announced its 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 net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Dividend Announcement

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

Dover Company Profile

(Free Report)

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.

See Also

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