Wellington Management Group LLP Reduces Stake in Dover Corporation $DOV

Wellington Management Group LLP reduced its stake in shares of Dover Corporation (NYSE:DOV) by 1.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,740,986 shares of the industrial products company’s stock after selling 17,585 shares during the period. Wellington Management Group LLP owned about 1.29% of Dover worth $390,468,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Dover in the second quarter valued at approximately $2,347,134,000. State Street Corp increased its position in Dover by 3.5% in the fourth quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock worth $1,319,978,000 after buying 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 fourth quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock valued at $684,348,000 after buying an additional 30,372 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Dover by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after buying an additional 150,319 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Dover during the 2nd quarter worth $625,375,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV opened at $198.54 on Friday. 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 has a market capitalization of $26.74 billion, a P/E ratio of 23.92, a PEG ratio of 1.51 and a beta of 1.16. The stock has a 50-day moving average price of $210.67 and a 200-day moving average price of $215.13. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54.

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

Dover Increases Dividend

The business also recently announced 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 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 1.1%. Dover’s dividend payout ratio is presently 25.06%.

Analysts Set New Price Targets

DOV has been the topic of a number of research reports. Robert W. Baird set a $270.00 price objective on Dover in a research note on Friday, July 24th. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Morgan Stanley lifted their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average 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.