Commerce Bank Makes New Investment in Dover Corporation $DOV

Commerce Bank acquired a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 52,047 shares of the industrial products company’s stock, valued at approximately $11,673,000.

A number of other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in Dover by 234.2% during the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Reflection Asset Management acquired a new position in Dover in the 4th quarter worth $26,000. MV Capital Management Inc. purchased a new position in Dover in the 4th quarter valued at about $29,000. Clearstead Trust LLC purchased a new position in Dover in the 2nd quarter valued at about $30,000. Finally, Financial Life Planners acquired a new stake in shares of Dover during the first quarter valued at about $31,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent analyst reports. Seaport Research Partners boosted their price target on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley raised their price objective on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. BMO Capital Markets raised 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. Weiss Ratings upgraded Dover from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird set a $270.00 price target on shares of Dover in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Performance

Shares of DOV stock opened at $201.96 on Monday. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.53 and a beta of 1.16. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company’s 50-day simple moving average is $212.68 and its 200-day simple moving average is $215.67. 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 (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, beating 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company earned $2.44 earnings per share. Dover’s quarterly revenue 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 earnings per share for the current fiscal year.

Dover Increases Dividend

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