Freestone Grove Partners LP Acquires New Stake in Dover Corporation $DOV

Freestone Grove Partners LP bought a new position in shares of Dover Corporation (NYSE:DOV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 196,788 shares of the industrial products company’s stock, valued at approximately $44,136,000.

A number of other institutional investors have also recently added to or reduced their stakes in DOV. Callan Family Office LLC acquired a new position in Dover in the second quarter worth approximately $702,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Dover by 3.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 219,445 shares of the industrial products company’s stock valued at $42,845,000 after acquiring an additional 7,396 shares during the last quarter. Leeward Investments LLC MA boosted its stake in shares of Dover by 22.2% during the 4th quarter. Leeward Investments LLC MA now owns 57,159 shares of the industrial products company’s stock worth $11,160,000 after acquiring an additional 10,377 shares in the last quarter. Independent Financial Group LLC acquired a new position in shares of Dover in the 1st quarter worth $1,367,000. Finally, Tredje AP fonden grew its holdings 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 worth $33,590,000 after acquiring an additional 8,774 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DOV shares. Royal Bank Of Canada reduced their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Morgan Stanley lifted their price target on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Robert W. Baird set a $270.00 target price on shares of Dover in a report on Friday, July 24th. Finally, BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.29.

Dover Stock Performance

DOV stock opened at $204.78 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a market cap of $27.58 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.53 and a beta of 1.16. The firm has a 50 day simple moving average of $211.61 and a 200 day simple moving average of $215.40. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $2.44 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Research analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. 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 currently 25.06%.

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.