QRG Capital Management Inc. Purchases 59,455 Shares of Dover Corporation $DOV

QRG Capital Management Inc. lifted its position in shares of Dover Corporation (NYSE:DOV) by 81.8% in the second quarter, HoldingsChannel.com reports. The fund owned 132,164 shares of the industrial products company’s stock after buying an additional 59,455 shares during the period. QRG Capital Management Inc.’s holdings in Dover were worth $29,642,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOV. BlackRock Inc. bought a new position in Dover in the second quarter valued at approximately $2,347,134,000. Bank of America Corp DE bought a new stake in Dover during the second quarter worth $625,375,000. Bank of New York Mellon Corp bought a new stake in Dover during the second quarter worth $591,207,000. Norges Bank acquired a new stake in shares of Dover in the 4th quarter valued at $275,907,000. Finally, Hsbc Holdings PLC bought a new position in shares of Dover in the 2nd quarter valued at $211,269,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DOV. Robert W. Baird set a $270.00 price target on Dover in a report on Friday, July 24th. Weiss Ratings cut Dover from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research note on Friday, July 24th. Morgan Stanley increased their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Finally, Wolfe Research reiterated an “outperform” rating and set a $262.00 price target on shares of Dover in a report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

Dover Trading Up 1.4%

NYSE:DOV traded up $2.65 during mid-day trading on Wednesday, hitting $189.19. 1,181,001 shares of the company’s stock were exchanged, compared to its average volume of 1,158,446. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25.48 billion, a P/E ratio of 22.79, a PEG ratio of 1.41 and a beta of 1.15. The company has a 50 day simple moving average of $200.75 and a 200-day simple moving average of $210.35.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.02. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 earnings per share. 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 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.10 annualized dividend and a yield of 1.1%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is 25.30%.

Dover Profile

Dover Corporation is a diversified global manufacturer that designs and produces specialized equipment, components and systems for industrial and commercial customers. Its businesses serve markets including energy, transportation, food and beverage, refrigeration, manufacturing, printing and packaging.

The company’s products and solutions include pumps, compressors, fluid-handling equipment, fueling and vehicle-service systems, refrigeration and heat-transfer technologies, industrial winches, digital printing and coding equipment, and systems used in textile and product identification applications.