Bank of New York Mellon Corp Acquires 1,830,722 Shares of Dover Corporation $DOV

Bank of New York Mellon Corp raised its holdings in shares of Dover Corporation (NYSE:DOV) by 174.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,880,653 shares of the industrial products company’s stock after acquiring an additional 1,830,722 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.10% of Dover worth $562,419,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in shares of Dover by 24.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 726,774 shares of the industrial products company’s stock worth $141,895,000 after acquiring an additional 142,171 shares in the last quarter. Fiduciary Family Office LLC grew its stake in shares of Dover by 13.8% in the fourth quarter. Fiduciary Family Office LLC now owns 1,853 shares of the industrial products company’s stock valued at $362,000 after buying an additional 225 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Dover by 13.6% in the fourth quarter. Natixis Advisors LLC now owns 93,284 shares of the industrial products company’s stock valued at $18,213,000 after buying an additional 11,183 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in shares of Dover by 1.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,333 shares of the industrial products company’s stock valued at $1,236,000 after buying an additional 100 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Dover in the fourth quarter valued at $201,000. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on DOV shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $229.00 target price on shares of Dover in a research note on Friday, April 24th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Friday, April 24th. Weiss Ratings cut shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Morgan Stanley set a $210.00 price objective on shares of Dover in a research report on Wednesday, February 4th. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.36.

Dover Stock Up 1.0%

DOV stock opened at $213.91 on Thursday. The company has a market cap of $28.80 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The business has a 50-day simple moving average of $215.03 and a 200 day simple moving average of $208.97. Dover Corporation has a 52 week low of $158.97 and a 52 week 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 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. Dover had a return on equity of 18.01% and a net margin of 13.30%.Dover’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Sell-side analysts anticipate that Dover Corporation will post 10.62 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be 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 of this dividend is Friday, May 29th. Dover’s payout ratio is 25.94%.

Dover 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.