Saudi Central Bank Has $2.12 Million Position in Dover Corporation $DOV

Saudi Central Bank raised its position in Dover Corporation (NYSE:DOV) by 86.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,435 shares of the industrial products company’s stock after purchasing an additional 4,373 shares during the quarter. Saudi Central Bank’s holdings in Dover were worth $2,116,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DOV. BlackRock Inc. bought a new position in Dover in the 2nd quarter valued at approximately $2,347,134,000. Bank of America Corp DE bought a new stake in Dover during the 2nd quarter worth approximately $625,375,000. Bank of New York Mellon Corp acquired a new position in Dover in the 2nd quarter valued at approximately $591,207,000. First Trust Advisors LP increased its position in Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after acquiring an additional 1,612,159 shares during the period. Finally, Norges Bank bought a new position in shares of Dover during the fourth quarter valued at $275,907,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV stock opened at $192.70 on Tuesday. The firm has a 50 day moving average of $206.48 and a 200-day moving average of $213.36. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.33. Dover Corporation has a 52 week low of $158.97 and a 52 week high of $237.54.

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

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.525 per share. This is an increase from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. Dover’s dividend payout ratio (DPR) is currently 25.30%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DOV shares. Wolfe Research reissued an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Royal Bank Of Canada lowered their target price on Dover from $252.00 to $227.00 and set a “sector perform” rating for the company in a research report on Friday, July 24th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Robert W. Baird set a $270.00 price target on Dover in a research note on Friday, July 24th. Finally, Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $238.29.

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.