Assenagon Asset Management S.A. Buys 23,362 Shares of Dover Corporation $DOV

Assenagon Asset Management S.A. lifted its stake in shares of Dover Corporation (NYSE:DOV) by 42.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,772 shares of the industrial products company’s stock after acquiring an additional 23,362 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dover were worth $16,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Dover by 174.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock worth $562,419,000 after purchasing an additional 1,830,722 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the last quarter. Norges Bank acquired a new stake in shares of Dover during the fourth quarter worth $275,907,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Dover during the fourth quarter worth $151,473,000. Finally, Auto Owners Insurance Co raised its stake in Dover by 19,424.0% during the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after buying an additional 757,536 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Robert W. Baird lifted their price objective on Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $252.00 price objective on shares of Dover in a research note on Friday, April 24th. Barclays upped their target price on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Finally, Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Dover Price Performance

Shares of NYSE DOV opened at $226.08 on Friday. The firm’s 50-day moving average price is $218.34 and its 200-day moving average price is $213.15. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a market capitalization of $30.44 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $2.05 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s dividend payout ratio is presently 25.94%.

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.