Pictet Asset Management Holding SA Cuts Position in Dover Corporation $DOV

Pictet Asset Management Holding SA decreased its holdings in Dover Corporation (NYSE:DOV) by 4.4% in the first quarter, HoldingsChannel.com reports. The firm owned 82,941 shares of the industrial products company’s stock after selling 3,833 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Dover were worth $17,289,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wesbanco Bank Inc. purchased a new stake in shares of Dover in the first quarter valued at approximately $3,013,000. GHP Investment Advisors Inc. lifted its position in shares of Dover by 492.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 7,292 shares of the industrial products company’s stock valued at $1,520,000 after buying an additional 6,061 shares in the last quarter. OLD National Bancorp IN grew its stake in Dover by 5.3% in the 1st quarter. OLD National Bancorp IN now owns 1,446 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 73 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Dover in the 1st quarter worth $1,438,000. Finally, Fifth Third Wealth Advisors LLC raised its position in Dover by 22.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,356 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 438 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 1.5%

Shares of Dover stock opened at $213.84 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $218.43 and its 200-day simple moving average is $213.96. The stock has a market cap of $28.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.65 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.01. The firm 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 revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Analysts predict that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Dover’s payout ratio is currently 25.94%.

Analysts Set New Price Targets

Several research firms have issued reports on DOV. 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. Oppenheimer upped their price target on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. BMO Capital Markets raised their price target on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” 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 report on Tuesday, March 17th. Finally, Seaport Research Partners increased their target price on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently 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.