42,768 Shares in Dover Corporation $DOV Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC acquired a new stake in shares of Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,768 shares of the industrial products company’s stock, valued at approximately $9,592,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new position in shares of Dover during the second quarter worth approximately $14,945,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Dover in the second quarter valued at approximately $283,000. Daiichi Life Insurance Co. Ltd. bought a new position in Dover in the second quarter worth approximately $2,288,000. Commerce Bank purchased a new position in Dover during the 2nd quarter worth $11,673,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Dover during the 2nd quarter valued at $3,979,000. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Up 1.0%

Shares of NYSE DOV opened at $201.96 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The stock has a market capitalization of $27.20 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.53 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 business has a fifty day moving average price of $212.68 and a 200 day moving average price of $215.61.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given 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 an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is presently 25.06%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Morgan Stanley boosted their price target on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

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.