Meiji Yasuda Asset Management Co Ltd. Takes $2.80 Million Position in Dover Corporation $DOV

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Dover Corporation (NYSE:DOV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,496 shares of the industrial products company’s stock, valued at approximately $2,803,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DOV. BlackRock Inc. acquired a new position in shares of Dover in the 2nd quarter valued at $2,347,134,000. Bank of New York Mellon Corp acquired a new stake in Dover during the 2nd quarter worth about $591,207,000. First Trust Advisors LP lifted its stake in 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 valued at $489,900,000 after buying an additional 1,612,159 shares in the last quarter. Norges Bank purchased a new stake in Dover during the fourth quarter valued at about $275,907,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Dover in the fourth quarter worth about $151,473,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE DOV opened at $203.63 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market capitalization of $27.43 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a 50 day simple moving average of $212.33 and a 200-day simple moving average of $215.61. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.02. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $2.44 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts predict that Dover Corporation will post 10.67 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.525 per share. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio is 25.30%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DOV. BMO Capital Markets upgraded shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Seaport Research Partners raised their price objective on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird set a $270.00 price objective on shares of Dover in a research report on Friday, July 24th. Morgan Stanley boosted their target price on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.29.

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.