QRG Capital Management Inc. Increases Stake in Dover Corporation $DOV

QRG Capital Management Inc. increased its position in shares of Dover Corporation (NYSE:DOV) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 62,545 shares of the industrial products company’s stock after purchasing an additional 3,762 shares during the period. QRG Capital Management Inc.’s holdings in Dover were worth $12,211,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Dover during the third quarter valued at approximately $25,000. Tompkins Financial Corp increased its holdings in Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares during the period. Westside Investment Management Inc. increased its holdings in Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after buying an additional 114 shares during the period. Torren Management LLC purchased a new position in Dover during the fourth quarter valued at approximately $45,000. Finally, N.E.W. Advisory Services LLC increased its holdings in Dover by 36.2% during the fourth quarter. N.E.W. Advisory Services LLC now owns 237 shares of the industrial products company’s stock valued at $46,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOV. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Oppenheimer lifted their target price on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $252.00 target price on shares of Dover in a research note on Friday, April 24th. Nine 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 presently has an average rating of “Moderate Buy” and an average price target of $237.36.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,497 shares of company stock worth $19,196,277 over the last quarter. Insiders own 1.10% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $223.41 on Wednesday. The firm has a market capitalization of $30.08 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.68 and a beta of 1.21. 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 Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The company’s fifty day moving average price is $216.06 and its 200-day moving average price is $203.62.

Dover (NYSE:DOV) last announced its quarterly earnings data 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, equities research analysts predict that Dover Corporation will post 10.64 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover’s dividend payout ratio is currently 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.