Griffin Asset Management Inc. Reduces Holdings in Dover Corporation $DOV

Griffin Asset Management Inc. lowered its position in Dover Corporation (NYSE:DOV) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,682 shares of the industrial products company’s stock after selling 4,527 shares during the quarter. Griffin Asset Management Inc.’s holdings in Dover were worth $10,356,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Dover by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 16,733,000 shares of the industrial products company’s stock worth $3,266,951,000 after acquiring an additional 120,341 shares in the last quarter. State Street Corp grew its stake in Dover by 3.5% during the 4th quarter. State Street Corp now owns 6,760,797 shares of the industrial products company’s stock valued at $1,319,978,000 after purchasing an additional 227,436 shares in the last quarter. Geode Capital Management LLC increased its holdings in Dover by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,519,070 shares of the industrial products company’s stock worth $684,348,000 after purchasing an additional 30,372 shares during the last quarter. Bank of New York Mellon Corp increased 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. Finally, Nuveen LLC raised its position in shares of Dover by 9.9% in the 4th quarter. Nuveen LLC now owns 2,623,281 shares of the industrial products company’s stock valued at $512,169,000 after purchasing an additional 235,454 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $210.00 to $230.00 in a research report on Tuesday, March 17th. Robert W. Baird upped their price target on shares of Dover from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Friday, April 24th. BMO Capital Markets increased their price objective on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Seaport Research Partners boosted their target price on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley boosted their target price on shares of Dover from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.43.

Dover Stock Down 0.0%

DOV stock opened at $211.42 on Friday. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.61 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The firm has a fifty day moving average price of $217.33 and a two-hundred day moving average price of $214.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32.

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, topping analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Research analysts predict that Dover Corporation will post 10.65 EPS for the current year.

Dover Announces Dividend

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

Dover Company Profile

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.