Auto Owners Insurance Co Grows Stock Holdings in Dover Corporation $DOV

Auto Owners Insurance Co raised its position in Dover Corporation (NYSE:DOV) by 19,424.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 761,436 shares of the industrial products company’s stock after acquiring an additional 757,536 shares during the period. Auto Owners Insurance Co’s holdings in Dover were worth $14,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DOV. Bank of New York Mellon Corp increased its holdings in shares of 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 during the period. First Trust Advisors LP boosted its position in Dover by 179.7% in the fourth 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 last quarter. Norges Bank purchased a new stake in Dover in the fourth quarter valued at approximately $275,907,000. Diamond Hill Capital Management Inc. acquired a new position in Dover in the 4th quarter worth approximately $151,473,000. Finally, AQR Capital Management LLC raised its position in Dover by 912.9% during the 2nd 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 last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 0.0%

Shares of DOV opened at $223.64 on Friday. The stock has a 50 day moving average price of $217.43 and a 200 day moving average price of $211.82. Dover Corporation has a one year low of $158.97 and a one year high of $237.54. 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 stock has a market capitalization of $30.12 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.70 and a beta of 1.17.

Dover (NYSE:DOV) last released its quarterly earnings data 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. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Dover’s quarterly revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts forecast that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given 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 of this dividend was Friday, May 29th. Dover’s dividend payout ratio (DPR) is presently 25.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOV shares. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Seaport Research Partners boosted their target price on shares of Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. BMO Capital Markets increased their price target on Dover from $237.00 to $250.00 and gave the stock a “market perform” 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 company an “outperform” rating in a research note on Friday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of Dover in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $239.85.

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.