Night Squared LP Makes New Investment in Dover Corporation $DOV

Night Squared LP bought a new position in shares of Dover Corporation (NYSE:DOV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 43,743 shares of the industrial products company’s stock, valued at approximately $8,540,000. Dover comprises about 2.4% of Night Squared LP’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. Brighton Jones LLC grew its stake in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Dover by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 676 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Dover by 11.8% in the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Dover in the second quarter worth $488,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Dover in the second quarter worth $1,030,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several analyst reports. Oppenheimer boosted their price objective on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Robert W. Baird upped their price target on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Seaport Research Partners upped their price target on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Morgan Stanley upped their price target on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $252.00 price target on shares of Dover in a research report on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.85.

Dover Price Performance

Shares of NYSE DOV opened at $222.82 on Wednesday. The firm’s 50-day moving average price is $216.70 and its 200-day moving average price is $211.22. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a market capitalization of $30.01 billion, a P/E ratio of 27.78, a P/E/G ratio of 1.68 and a beta of 1.17. 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 the consensus estimate 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 quarter in the prior year, the business 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. Equities research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. Dover’s dividend payout ratio is currently 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.