Northwestern Mutual Wealth Management Co. Buys Shares of 17,739 Dover Corporation $DOV

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Dover Corporation (NYSE:DOV) in the second quarter, HoldingsChannel reports. The fund purchased 17,739 shares of the industrial products company’s stock, valued at approximately $3,979,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evolve Private Wealth LLC bought a new stake in shares of Dover in the second quarter worth $458,000. Farringdon Capital Ltd. acquired a new stake in Dover in the 2nd quarter valued at $336,000. Varma Mutual Pension Insurance Co acquired a new stake in Dover in the 2nd quarter valued at $18,478,000. Westpac Banking Corp bought a new stake in Dover during the 2nd quarter worth about $4,926,000. Finally, Sumitomo Life Insurance Co. acquired a new position in shares of Dover during the 2nd quarter worth about $209,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.8%

Dover stock opened at $203.63 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The company’s 50-day moving average is $212.33 and its 200-day moving average is $215.61. The firm has a market capitalization of $27.43 billion, a PE ratio of 24.53, a P/E/G ratio of 1.53 and a beta of 1.16. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.02. Dover had a return on equity of 18.32% and a net margin of 13.48%.The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts anticipate that Dover Corporation will post 10.67 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.525 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is currently 25.30%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOV. Seaport Research Partners lifted their target price on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Royal Bank Of Canada lowered their price target on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research report on Friday, July 24th. Finally, Wolfe Research reiterated an “outperform” rating and set a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Dover has a consensus 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.