52,047 Shares in Dover Corporation $DOV Purchased by Commerce Bank

Commerce Bank bought a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 52,047 shares of the industrial products company’s stock, valued at approximately $11,673,000.

Several other hedge funds also recently modified their holdings of DOV. Meeder Asset Management Inc. raised its position in shares of Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Reflection Asset Management acquired a new stake in Dover during the fourth quarter worth approximately $26,000. Clearstead Trust LLC purchased a new stake in Dover in the 2nd quarter worth approximately $30,000. MV Capital Management Inc. purchased a new stake in Dover in the 4th quarter worth approximately $29,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Dover in the 2nd quarter valued at $34,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 0.0%

NYSE DOV opened at $201.96 on Monday. The firm 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. 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 Corporation has a one year low of $158.97 and a one year high of $237.54. The company’s 50 day moving average price is $212.68 and its 200 day moving average price is $215.67.

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, 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 during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. Dover’s revenue for the quarter was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, sell-side analysts predict that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.525 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.10 annualized dividend and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 25.06%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several analyst reports. Robert W. Baird set a $270.00 price objective on Dover in a report on Friday, July 24th. Royal Bank Of Canada dropped their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research note on Friday, July 24th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Morgan Stanley lifted their price target on Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target 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.