Westpac Banking Corp Takes $4.93 Million Position in Dover Corporation $DOV

Westpac Banking Corp acquired a new position in Dover Corporation (NYSE:DOV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,962 shares of the industrial products company’s stock, valued at approximately $4,926,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Dover by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock valued at $3,266,951,000 after purchasing an additional 120,341 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Dover in the second quarter worth about $2,347,134,000. State Street Corp increased its holdings in shares of Dover by 3.5% during the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after acquiring an additional 227,436 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dover by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after acquiring an additional 30,372 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Up 1.0%

Shares of DOV stock opened at $201.96 on Friday. The firm has a market capitalization of $27.20 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. Dover Corporation has a 1 year low of $158.97 and a 1 year high of $237.54. The firm’s fifty day simple moving average is $212.68 and its 200 day simple moving average is $215.61. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share 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 the consensus estimate of $2.21 billion. During the same period in the prior year, the firm earned $2.44 EPS. The business’s revenue 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 predict that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, August 31st. Dover’s dividend payout ratio (DPR) is 25.30%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DOV. Royal Bank Of Canada dropped their price target on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Weiss Ratings raised shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Robert W. Baird set a $270.00 target price on shares of Dover in a research note on Friday, July 24th. Wolfe Research reiterated an “outperform” rating and issued a $262.00 target price on shares of Dover in a report on Thursday, July 9th. Finally, Morgan Stanley boosted their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Profile

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.