6,982 Dover Corporation $DOV Shares Purchased by Wedmont Private Capital

Wedmont Private Capital grew its position in Dover Corporation (NYSE:DOV) by 222.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,115 shares of the industrial products company’s stock after buying an additional 6,982 shares during the period. Wedmont Private Capital’s holdings in Dover were worth $1,807,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Dover in the second quarter valued at about $2,347,134,000. Bank of New York Mellon Corp raised its holdings in Dover by 5.2% during 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 during the last quarter. Bank of America Corp DE acquired a new position in Dover during the 2nd quarter valued at about $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Dover by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock valued at $217,433,000 after purchasing an additional 20,590 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Dover in the 2nd quarter valued at about $211,269,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent research reports. Robert W. Baird set a $270.00 price target on shares of Dover in a research note on Friday, July 24th. Royal Bank Of Canada lowered their target price on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Wolfe Research reissued an “outperform” rating and issued a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. Finally, Wells Fargo & Company began coverage on Dover in a research report on Thursday, September 24th. They issued an “overweight” rating and a $229.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.21.

Dover Stock Performance

Shares of NYSE:DOV opened at $188.68 on Friday. The firm’s 50 day simple moving average is $196.10 and its 200 day simple moving average is $208.50. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a market capitalization of $25.41 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.65 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 25.30%.

About Dover

Dover Corporation is a diversified global manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including industrial manufacturing, energy, transportation, food and beverage, refrigeration, and building services.

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.