Allstate Corp Buys 4,907 Shares of Dover Corporation $DOV

Allstate Corp grew its holdings in Dover Corporation (NYSE:DOV) by 109.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,383 shares of the industrial products company’s stock after acquiring an additional 4,907 shares during the quarter. Allstate Corp’s holdings in Dover were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Dover in the third quarter valued at approximately $25,000. Tompkins Financial Corp raised its stake in shares of Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 77 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Dover in the fourth quarter valued at $34,000. Westside Investment Management Inc. raised its stake in shares of Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Dover by 371.4% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 208 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Dover stock opened at $212.68 on Friday. The business’s 50-day simple moving average is $215.03 and its 200 day simple moving average is $208.17. The stock has a market cap of $28.64 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 1.63 and a beta of 1.21. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (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 business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, research analysts anticipate that Dover Corporation will post 10.62 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is 25.94%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DOV shares. JPMorgan Chase & Co. increased their price objective on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $224.00 price objective on shares of Dover in a research note on Saturday, January 31st. Oppenheimer increased their price objective on Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $229.00 target price on shares of Dover in a research note on Friday, April 24th. Finally, Citigroup restated a “buy” rating on shares of Dover in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.36.

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.