Squarepoint Ops LLC Raises Stock Holdings in Dover Corporation $DOV

Squarepoint Ops LLC boosted its position in Dover Corporation (NYSE:DOV) by 1,356.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,989 shares of the industrial products company’s stock after acquiring an additional 24,204 shares during the quarter. Squarepoint Ops LLC’s holdings in Dover were worth $5,829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of DOV. California State Teachers Retirement System increased its stake in shares of Dover by 17,645.5% in the second quarter. California State Teachers Retirement System now owns 39,632,967 shares of the industrial products company’s stock worth $8,888,882,000 after buying an additional 39,409,626 shares during the period. BlackRock Inc. purchased a new stake in shares of Dover in the 2nd quarter worth approximately $2,347,134,000. State Street Corp grew its stake in shares of 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 acquiring an additional 227,436 shares during the last quarter. Geode Capital Management LLC increased its stake in Dover by 0.9% during 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 purchasing an additional 30,372 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Dover by 5.2% during the first 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 acquiring an additional 150,319 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.8%

Shares of NYSE:DOV opened at $188.94 on Friday. The company has a market capitalization of $25.45 billion, a PE ratio of 22.76, a P/E/G ratio of 1.42 and a beta of 1.15. 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 Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The business’s fifty day simple moving average is $204.34 and its 200-day simple moving average is $212.33.

Dover (NYSE:DOV) last issued its quarterly earnings data 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. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities research analysts predict that Dover Corporation will post 10.67 earnings per share for the current fiscal 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 $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 25.30%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Robert W. Baird set a $270.00 price objective on Dover in a report on Friday, July 24th. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Morgan Stanley upped their price objective on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.29.

About Dover

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company’s products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.