Saudi Central Bank Has $2.12 Million Stock Holdings in Dover Corporation $DOV

Saudi Central Bank increased its holdings in shares of Dover Corporation (NYSE:DOV) by 86.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,435 shares of the industrial products company’s stock after acquiring an additional 4,373 shares during the quarter. Saudi Central Bank’s holdings in Dover were worth $2,116,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 676 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after buying an additional 1,580 shares during the period. Sivia Capital Partners LLC acquired a new position in Dover in the 2nd quarter valued at about $488,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Dover in the 2nd quarter valued at about $1,030,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the subject of several research reports. Morgan Stanley boosted their price objective on Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Wolfe Research reissued an “outperform” rating and set a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Stock Performance

NYSE:DOV opened at $192.70 on Tuesday. Dover Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $206.48 and its 200 day simple moving average is $213.36. The firm has a market capitalization of $25.95 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. On average, analysts anticipate 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 $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 25.30%.

About Dover

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.