The Manufacturers Life Insurance Company Makes New Investment in Dover Corporation $DOV

The Manufacturers Life Insurance Company purchased a new stake in Dover Corporation (NYSE:DOV) during the second quarter, Holdings Channel reports. The institutional investor purchased 67,684 shares of the industrial products company’s stock, valued at approximately $15,180,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. Meeder Asset Management Inc. increased its stake in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after buying an additional 89 shares during the period. Reflection Asset Management purchased a new position in Dover in the fourth quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in Dover during the 4th quarter worth approximately $29,000. Clearstead Trust LLC acquired a new position in Dover during the 2nd quarter worth approximately $30,000. Finally, Financial Life Planners purchased a new stake in shares of Dover in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Dover Stock Down 1.6%

DOV opened at $198.54 on Friday. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a market capitalization of $26.74 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The business’s 50-day simple moving average is $210.67 and its 200-day simple moving average is $215.13.

Dover (NYSE:DOV) last announced its 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 firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Dover had a return on equity of 18.32% and a net margin of 13.48%.The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Analysts anticipate that Dover Corporation will post 10.67 EPS for the current year.

Dover Increases Dividend

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

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.