2,933 Dover Corporation $DOV Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its holdings in shares of Dover Corporation (NYSE:DOV) by 159.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,768 shares of the industrial products company’s stock after purchasing an additional 2,933 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Dover were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Dover during the 2nd quarter valued at approximately $2,347,134,000. Bank of New York Mellon Corp raised its stake in 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 buying an additional 150,319 shares during the last quarter. Bank of America Corp DE purchased a new position in Dover during the second quarter valued at $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Dover by 2.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock worth $217,433,000 after acquiring an additional 20,590 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Dover in the second quarter worth $211,269,000. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DOV. Robert W. Baird set a $270.00 target price on Dover in a research note on Friday, July 24th. Mizuho lowered their price target on Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company assumed coverage on shares of Dover in a research note on Thursday, September 24th. They issued an “overweight” rating and a $229.00 price target on the stock. Wolfe Research reiterated an “outperform” rating and issued a $262.00 price target on shares of Dover in a research note on Thursday, July 9th. Finally, BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $255.00 to $240.00 in a research report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.93.

Dover Price Performance

Shares of DOV opened at $193.99 on Friday. Dover Corporation has a twelve month low of $163.33 and a twelve month high of $237.54. The company has a market capitalization of $26.13 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The firm has a 50 day moving average of $194.76 and a 200 day moving average of $207.94. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, equities research analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. Dover’s dividend payout ratio is currently 25.30%.

About Dover

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

The company’s products include pumps, compressors, fluid-handling equipment, fueling and dispensing systems, refrigeration and heat-transfer technologies, printing and marking equipment, and engineered components.