Rice Hall James & Associates LLC Invests $1.01 Million in Dover Corporation $DOV

Rice Hall James & Associates LLC purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,508 shares of the industrial products company’s stock, valued at approximately $1,011,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after buying an additional 120,341 shares in the last quarter. State Street Corp boosted its holdings in shares of Dover by 3.5% in the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after acquiring an additional 227,436 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dover by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after acquiring an additional 30,372 shares during the period. Bank of New York Mellon Corp grew its position in shares of Dover by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after purchasing an additional 150,319 shares in the last quarter. Finally, Nuveen LLC raised its stake in shares of Dover by 9.9% during the 4th 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 period. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird set a $270.00 target price on Dover in a research note on Friday, July 24th. Morgan Stanley increased their price target on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Seaport Research Partners raised their price objective on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Oppenheimer upped their target price on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Performance

Shares of DOV opened at $203.23 on Wednesday. The company has a market cap of $27.37 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $213.60 and a 200-day moving average price of $215.72. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 25.30%.

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.