Meiji Yasuda Asset Management Co Ltd. Boosts Holdings in Dover Corporation $DOV

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Dover Corporation (NYSE:DOV) by 28.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,198 shares of the industrial products company’s stock after acquiring an additional 4,283 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Dover were worth $3,748,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Dover during the 3rd quarter worth about $25,000. Tompkins Financial Corp boosted its stake in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Dover during the 4th quarter worth about $34,000. Westside Investment Management Inc. boosted its stake in shares of Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 114 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 208 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOV. BMO Capital Markets increased their target price on shares of Dover from $237.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Robert W. Baird increased 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 target price on shares of Dover in a research note on Friday, April 24th. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.

Dover Stock Up 1.1%

DOV opened at $210.10 on Friday. Dover Corporation has a twelve month low of $158.97 and a twelve month 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. The company has a 50-day moving average price of $214.58 and a 200 day moving average price of $207.02. The company has a market cap of $28.29 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21.

Dover (NYSE:DOV) last released its quarterly 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. Dover had a net margin of 13.30% and a return on equity of 18.01%. 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 prior year, the firm earned $2.05 EPS. The company’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. Sell-side analysts expect that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

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