Hsbc Holdings PLC Buys Shares of 941,695 Dover Corporation $DOV

Hsbc Holdings PLC bought a new position in shares of Dover Corporation (NYSE:DOV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 941,695 shares of the industrial products company’s stock, valued at approximately $211,269,000. Hsbc Holdings PLC owned 0.70% of Dover at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 676 shares in the last quarter. Empowered Funds LLC boosted its holdings in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after acquiring an additional 1,580 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Dover in the second quarter valued at approximately $488,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Dover in the second quarter worth $1,030,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

DOV stock opened at $202.25 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a market cap of $27.24 billion, a P/E ratio of 24.37, a PEG ratio of 1.55 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 stock’s 50 day moving average price is $211.92 and its 200 day moving average price is $215.49.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm posted $2.44 EPS. Dover’s revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, sell-side analysts expect that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.525 dividend. The ex-dividend date is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is presently 25.06%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DOV. Royal Bank Of Canada decreased their price objective on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. Morgan Stanley lifted their target price on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Wolfe Research reissued an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Finally, BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $238.29.

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.