Assenagon Asset Management S.A. Has $16.42 Million Stock Holdings in Dover Corporation $DOV

Assenagon Asset Management S.A. grew its stake in shares of Dover Corporation (NYSE:DOV) by 42.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm 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. owned about 0.06% of Dover worth $16,420,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Dover by 174.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after purchasing an additional 1,830,722 shares in the last quarter. First Trust Advisors LP increased its holdings in 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 buying an additional 1,612,159 shares during the period. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at approximately $275,907,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Dover during the 4th quarter worth approximately $151,473,000. Finally, Auto Owners Insurance Co boosted its position in shares of Dover by 19,424.0% during the 4th quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after acquiring an additional 757,536 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Seaport Research Partners lifted their price objective on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Barclays lifted their price target on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 price target on shares of Dover in a report on Friday, April 24th. Finally, Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Sunday, June 7th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $239.85.

Dover Trading Down 2.0%

NYSE DOV opened at $226.08 on Friday. 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 Corporation has a twelve month low of $158.97 and a twelve month high of $237.54. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The business’s fifty day moving average is $218.34 and its 200 day moving average is $213.15.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued 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 was Friday, May 29th. Dover’s payout ratio is 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.