Dover Corporation $DOV Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Dover Corporation (NYSE:DOV) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,709 shares of the industrial products company’s stock after purchasing an additional 10,164 shares during the quarter. QRG Capital Management Inc.’s holdings in Dover were worth $15,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Dover by 174.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after buying an additional 1,830,722 shares during the period. First Trust Advisors LP increased its position in shares of Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after acquiring an additional 1,612,159 shares during the period. Norges Bank purchased a new position in Dover in the 4th quarter worth $275,907,000. Diamond Hill Capital Management Inc. acquired a new stake in Dover during the 4th quarter worth about $151,473,000. Finally, Auto Owners Insurance Co lifted its position in Dover by 19,424.0% during the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after acquiring an additional 757,536 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $213.84 on Friday. The firm has a market capitalization of $28.80 billion, a P/E ratio of 26.66, a PEG ratio of 1.63 and a beta of 1.16. The stock has a 50-day simple moving average of $218.37 and a two-hundred day simple moving average of $213.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities analysts forecast that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 25.94%.

Analysts Set New Price Targets

DOV has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Morgan Stanley lifted their target price on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 price target on shares of Dover in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $252.00 price objective on shares of Dover in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

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.