North Star Asset Management Inc. Takes Position in Dover Corporation $DOV

North Star Asset Management Inc. bought a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,515 shares of the industrial products company’s stock, valued at approximately $788,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Dover during the second quarter worth about $2,347,134,000. State Street Corp increased its stake in shares of Dover by 3.5% during the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dover by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after purchasing an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Dover by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock worth $631,806,000 after purchasing an additional 150,319 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Dover during the 2nd quarter valued at approximately $625,375,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE DOV opened at $198.54 on Friday. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The firm has a market capitalization of $26.74 billion, a P/E ratio of 23.92, a PEG ratio of 1.53 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $210.67 and a 200-day moving average price of $215.13.

Dover (NYSE:DOV) last released its 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 for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the business earned $2.44 earnings per share. Dover’s quarterly revenue 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 anticipate that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The business 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 dividend of $0.525 per share. The ex-dividend date is Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. Dover’s dividend payout ratio (DPR) is 25.06%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DOV shares. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley increased their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Robert W. Baird set a $270.00 price objective on shares of Dover in a research note on Friday, July 24th. Wolfe Research reaffirmed 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 shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target 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.