Danske Bank A S Acquires Shares of 104,477 Dover Corporation $DOV

Danske Bank A S acquired a new stake in shares of Dover Corporation (NYSE:DOV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 104,477 shares of the industrial products company’s stock, valued at approximately $23,432,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOV. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock valued at $42,845,000 after purchasing an additional 7,396 shares during the last quarter. Leeward Investments LLC MA raised its stake in shares of Dover by 22.2% in the fourth quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock worth $11,160,000 after purchasing an additional 10,377 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Dover in the first quarter valued at approximately $1,367,000. Tredje AP fonden lifted its holdings in shares of Dover by 5.4% in the fourth quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company’s stock valued at $33,590,000 after purchasing an additional 8,774 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Dover by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 315,504 shares of the industrial products company’s stock valued at $61,760,000 after buying an additional 15,361 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Down 1.2%

DOV stock opened at $200.05 on Friday. The stock has a market cap of $26.94 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $212.98 and its two-hundred day simple moving average is $215.71. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts expect that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The business also recently declared 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. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s payout ratio is presently 25.06%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOV. Seaport Research Partners upped their price target on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Oppenheimer lifted their price objective on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Citigroup reiterated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target 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. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.