Public Employees Retirement System of Ohio Takes $9.67 Million Position in Dover Corporation $DOV

Public Employees Retirement System of Ohio acquired a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 43,103 shares of the industrial products company’s stock, valued at approximately $9,667,000.

Several other hedge funds have also recently bought and sold shares of DOV. BlackRock Inc. acquired a new stake in Dover in the 2nd quarter worth approximately $2,347,134,000. Bank of America Corp DE acquired a new position in Dover during the second quarter valued at approximately $625,375,000. Bank of New York Mellon Corp acquired a new stake in shares of Dover in the second quarter worth $591,207,000. First Trust Advisors LP lifted its stake in shares of Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after buying an additional 1,612,159 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Dover during the 4th quarter worth $275,907,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE:DOV opened at $193.89 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company has a fifty day moving average price of $209.96 and a 200 day moving average price of $214.81. The stock has a market cap of $26.11 billion, a P/E ratio of 23.36, a PEG ratio of 1.51 and a beta of 1.16.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the business posted $2.44 EPS. The business’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. Analysts anticipate that Dover Corporation will post 10.67 earnings per share 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 1.1%. 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 25.06%.

Analyst Ratings Changes

Several brokerages recently commented on DOV. Weiss Ratings upgraded shares of Dover from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 4th. Morgan Stanley raised their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada dropped their price objective on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Wolfe Research reissued an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Company 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.