Wealthfront Advisers LLC Invests $6.28 Million in Dover Corporation $DOV

Wealthfront Advisers LLC acquired a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,013 shares of the industrial products company’s stock, valued at approximately $6,283,000.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Reflection Asset Management bought a new stake in Dover during the fourth quarter worth about $26,000. MV Capital Management Inc. bought a new position in shares of Dover in the fourth quarter valued at $29,000. Clearstead Trust LLC acquired a new position in shares of Dover during the 2nd quarter worth about $30,000. Finally, Financial Life Planners acquired a new position in Dover during the first quarter worth approximately $31,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DOV. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and cut their target price for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of Dover in a report on Friday, April 24th. Finally, Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Trading Down 1.2%

Shares of DOV opened at $200.05 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The firm has a market cap of $26.94 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.54 and a beta of 1.16. The business’s fifty day moving average is $212.98 and its 200-day moving average is $215.71.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company earned $2.44 EPS. Dover’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. Equities analysts anticipate that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

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

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.