Glenview Trust Co Acquires New Position in Dover Corporation $DOV

Glenview Trust Co bought a new position in Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent filing with the SEC. The firm bought 8,300 shares of the industrial products company’s stock, valued at approximately $1,862,000.

A number of other hedge funds have also bought and sold shares of the stock. True North Advisors LLC increased its position in shares of Dover by 2.9% in the 1st quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 45 shares during the period. Orion Porfolio Solutions LLC grew its stake in Dover by 0.7% during the 4th quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock valued at $1,472,000 after purchasing an additional 51 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in shares of Dover by 3.5% in the fourth quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 53 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Dover by 2.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 56 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of Dover by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company’s stock worth $975,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 1.6%

DOV opened at $198.54 on Friday. The firm’s fifty day moving average price is $210.67 and its 200 day moving average price is $215.13. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The stock has a market capitalization of $26.74 billion, a PE ratio of 23.92, a P/E/G ratio of 1.53 and a beta of 1.16. 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 (NYSE:DOV) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. As a group, research analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.525 per share. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is 25.06%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird set a $270.00 price target on Dover in a research report on Friday, July 24th. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Royal Bank Of Canada reduced their price objective on shares of Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

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.