Dover Corporation $DOV Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in Dover Corporation (NYSE:DOV) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,000,020 shares of the industrial products company’s stock after selling 241,975 shares during the period. Hsbc Holdings PLC owned 0.74% of Dover worth $195,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted 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 buying an additional 1,830,722 shares during the last quarter. First Trust Advisors LP grew its position in shares of Dover by 179.7% during the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after acquiring an additional 1,612,159 shares during the last quarter. Norges Bank acquired a new stake in shares of Dover in the 4th quarter worth about $275,907,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Dover in the 4th quarter worth about $151,473,000. Finally, AQR Capital Management LLC lifted its position in Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.0%

Dover stock opened at $223.64 on Friday. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54. The stock has a market cap of $30.12 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.70 and a beta of 1.17. The company’s 50-day moving average price is $217.43 and its two-hundred day moving average price is $211.82. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share 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 during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, analysts expect that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Seaport Research Partners lifted their price target on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $252.00 price objective on shares of Dover in a report on Friday, April 24th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target 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.