Fisher Asset Management LLC Cuts Stock Position in Dover Corporation $DOV

Fisher Asset Management LLC cut its holdings in Dover Corporation (NYSE:DOV) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,610,141 shares of the industrial products company’s stock after selling 22,992 shares during the quarter. Fisher Asset Management LLC’s holdings in Dover were worth $314,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOV. Diamond Hill Capital Management Inc. purchased a new position in shares of Dover in the fourth quarter valued at $151,473,000. AQR Capital Management LLC raised its position in Dover by 912.9% during 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 purchasing an additional 711,471 shares during the period. Qube Research & Technologies Ltd raised its position in Dover by 65.2% during 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 purchasing an additional 520,211 shares during the period. Wellington Management Group LLP raised its position in Dover by 16.1% during the third quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after purchasing an additional 294,856 shares during the period. Finally, Voloridge Investment Management LLC raised its position in Dover by 667.2% during the third quarter. Voloridge Investment Management LLC now owns 327,155 shares of the industrial products company’s stock valued at $54,579,000 after purchasing an additional 284,514 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Barclays raised their price target on Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Morgan Stanley set a $210.00 price target on Dover in a research report on Wednesday, February 4th. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. Finally, Robert W. Baird raised their price target on Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.

Dover Stock Up 0.1%

Shares of DOV opened at $210.10 on Tuesday. The company has a market cap of $28.29 billion, a PE ratio of 26.20, a P/E/G ratio of 1.60 and a beta of 1.21. The business has a fifty day moving average of $214.70 and a 200 day moving average of $207.45. Dover Corporation has a 52-week low of $158.97 and a 52-week 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.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $2.05 earnings per share. Dover’s 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, sell-side analysts expect that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Dover’s dividend payout ratio (DPR) is 25.94%.

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.