Dover Corporation $DOV Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Dover Corporation (NYSE:DOV) by 68.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,189 shares of the industrial products company’s stock after acquiring an additional 13,101 shares during the quarter. CIBC Asset Management Inc’s holdings in Dover were worth $6,285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of 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 valued at $562,419,000 after purchasing an additional 1,830,722 shares during the period. Norges Bank acquired a new stake in shares of Dover in the fourth quarter worth $275,907,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Dover in the fourth quarter worth $151,473,000. AQR Capital Management LLC boosted its position in shares of Dover by 912.9% in the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after buying an additional 711,471 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in Dover by 65.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock valued at $219,846,000 after purchasing an additional 520,211 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lifted their price objective on Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Robert W. Baird lifted their price objective on Dover from $255.00 to $279.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $210.00 to $230.00 in a research note on Tuesday, March 17th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $252.00 price objective on shares of Dover in a report on Friday, April 24th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $238.79.

Dover Stock Up 0.7%

NYSE:DOV opened at $214.93 on Friday. The stock’s fifty day moving average price is $214.98 and its two-hundred day moving average price is $209.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. The company has a market cap of $28.94 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 1.64 and a beta of 1.17. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. The company had revenue of $2.05 billion for 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%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, analysts anticipate that Dover Corporation will post 10.64 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend 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.