Stock Yards Bank & Trust Co. Lowers Position in Dover Corporation $DOV

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Dover Corporation (NYSE:DOV) by 16.6% during the 1st quarter, Holdings Channel reports. The fund owned 16,975 shares of the industrial products company’s stock after selling 3,370 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Dover were worth $3,538,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Dover during the fourth quarter valued at about $10,195,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Dover by 15.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,470 shares of the industrial products company’s stock worth $8,442,000 after buying an additional 5,514 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $42,845,000 after acquiring an additional 7,396 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Dover during the 4th quarter worth approximately $1,230,000. Finally, BIP Wealth LLC purchased a new stake in Dover during the fourth quarter valued at approximately $538,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 3.0%

NYSE DOV opened at $217.45 on Thursday. The company has a fifty day simple moving average of $218.56 and a two-hundred day simple moving average of $213.86. The stock has a market cap of $29.28 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.71 and a beta of 1.16. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. 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 (NYSE:DOV) last announced its quarterly earnings data 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. 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 analyst estimates of $2.19 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’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, analysts forecast that Dover Corporation will post 10.65 earnings per share for the current year.

Dover Announces Dividend

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

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $229.00 price objective on shares of Dover in a report on Friday, April 24th. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $210.00 to $230.00 in a research report on Tuesday, March 17th. Royal Bank Of Canada restated a “sector perform” rating and set a $252.00 target price on shares of Dover in a research note on Friday, April 24th. Finally, Barclays increased their price target on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average price target 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.