Dover Corporation $DOV Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Dover Corporation (NYSE:DOV) by 6.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 871,567 shares of the industrial products company’s stock after selling 58,734 shares during the period. Legal & General Group Plc owned 0.64% of Dover worth $170,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Dover by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after purchasing an additional 120,341 shares in the last quarter. State Street Corp grew its stake in Dover by 1.3% in the third quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock worth $1,089,961,000 after purchasing an additional 86,212 shares in the last quarter. Wellington Management Group LLP grew its stake in Dover by 16.1% in the third quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock worth $355,458,000 after purchasing an additional 294,856 shares in the last quarter. Franklin Resources Inc. grew its stake in Dover by 13.2% in the third quarter. Franklin Resources Inc. now owns 1,664,306 shares of the industrial products company’s stock worth $277,656,000 after purchasing an additional 193,878 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Dover by 4.3% in the third quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company’s stock worth $272,456,000 after purchasing an additional 67,588 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Oppenheimer lifted their target price on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Citigroup restated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. JPMorgan Chase & Co. lifted their target price on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Barclays lifted their target price on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.36.

Dover Stock Performance

DOV opened at $213.39 on Thursday. The business’s 50 day moving average is $215.06 and its 200-day moving average is $207.95. The stock has a market cap of $28.74 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, analysts predict that Dover Corporation will post 10.62 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Dover’s payout ratio is 25.94%.

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.