Glenmede Trust Co. NA Increases Position in Dover Corporation $DOV

Glenmede Trust Co. NA grew its position in shares of Dover Corporation (NYSE:DOV) by 23.4% during the first quarter, Holdings Channel reports. The firm owned 17,306 shares of the industrial products company’s stock after acquiring an additional 3,277 shares during the quarter. Glenmede Trust Co. NA’s holdings in Dover were worth $3,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. grew its stake in shares of Dover by 234.2% in the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Reflection Asset Management acquired a new position in Dover during the 4th quarter worth about $26,000. MV Capital Management Inc. purchased a new position in Dover during the 4th quarter valued at about $29,000. Financial Life Planners purchased a new position in Dover during the 1st quarter valued at about $31,000. Finally, Leonteq Securities AG acquired a new position in Dover in the 4th quarter valued at about $34,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of NYSE DOV opened at $210.26 on Wednesday. The stock’s 50-day moving average is $214.68 and its two-hundred day moving average is $215.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.Dover’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts forecast that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is 25.06%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Wolfe Research reissued an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley upped their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $238.29.

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.