Equitable Holdings Inc. Buys Shares of 7,724 Dover Corporation $DOV

Equitable Holdings Inc. purchased a new position in shares of Dover Corporation (NYSE:DOV) in the second quarter, Holdings Channel.com reports. The fund purchased 7,724 shares of the industrial products company’s stock, valued at approximately $1,732,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Callan Family Office LLC acquired a new stake in shares of Dover during the 2nd quarter worth about $702,000. Northwestern Mutual Wealth Management Co. boosted its stake in Dover by 3.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock worth $42,845,000 after buying an additional 7,396 shares during the period. Leeward Investments LLC MA boosted its stake in Dover by 22.2% during the fourth quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock worth $11,160,000 after buying an additional 10,377 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Dover during the first quarter valued at about $1,367,000. Finally, Tredje AP fonden raised its stake in shares of Dover by 5.4% in the 4th quarter. Tredje AP fonden now owns 172,043 shares of the industrial products company’s stock valued at $33,590,000 after acquiring an additional 8,774 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Dover stock opened at $198.54 on Friday. The firm has a market cap of $26.74 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $210.67 and its two-hundred day moving average is $215.13.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, research analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a 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 presently 25.06%.

Wall Street Analysts Forecast Growth

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