QRG Capital Management Inc. Acquires 10,164 Shares of Dover Corporation $DOV

QRG Capital Management Inc. lifted its stake in Dover Corporation (NYSE:DOV) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,709 shares of the industrial products company’s stock after purchasing an additional 10,164 shares during the period. QRG Capital Management Inc. owned about 0.05% of Dover worth $15,156,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Dover by 174.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after acquiring an additional 1,830,722 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Dover by 179.7% in the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the period. Norges Bank bought a new position in Dover in the fourth quarter worth approximately $275,907,000. Diamond Hill Capital Management Inc. purchased a new position in Dover during the 4th quarter worth $151,473,000. Finally, Auto Owners Insurance Co increased its holdings in Dover by 19,424.0% during the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after purchasing an additional 757,536 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

DOV stock opened at $213.84 on Friday. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. The firm has a 50-day simple moving average of $218.37 and a two-hundred day simple moving average of $213.96.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DOV. Morgan Stanley upped their target price on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $252.00 price target on shares of Dover in a report on Friday, April 24th. Finally, Barclays upped their price target on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

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.