Pictet Asset Management Holding SA Sells 3,833 Shares of Dover Corporation $DOV

Pictet Asset Management Holding SA trimmed its stake in Dover Corporation (NYSE:DOV) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,941 shares of the industrial products company’s stock after selling 3,833 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Dover worth $17,289,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOV. OFI Invest Asset Management bought a new stake in shares of Dover in the 4th quarter valued at about $10,195,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Dover by 15.3% during 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 acquiring an additional 5,514 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $42,845,000 after acquiring an additional 7,396 shares during the last quarter. BIP Wealth LLC purchased a new position in Dover in the fourth quarter worth $538,000. Finally, Pensionfund Sabic acquired a new position in shares of Dover during the fourth quarter worth $1,230,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 1.5%

Shares of NYSE:DOV opened at $213.84 on Friday. 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 Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The business has a 50 day moving average of $218.43 and a two-hundred day moving average of $213.96. The company has a market capitalization of $28.80 billion, a PE ratio of 26.66, a PEG ratio of 1.65 and a beta of 1.16.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given 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 dividend payout ratio (DPR) is currently 25.94%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOV. Morgan Stanley boosted their target price 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 raised Dover from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Seaport Research Partners boosted their price target on Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Oppenheimer increased their price objective on shares of Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Dover 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.