Wedge Capital Management L L P NC Cuts Stake in Dover Corporation $DOV

Wedge Capital Management L L P NC lessened its position in Dover Corporation (NYSE:DOV) by 13.1% in the 2nd quarter, Holdings Channel reports. The fund owned 61,285 shares of the industrial products company’s stock after selling 9,202 shares during the period. Wedge Capital Management L L P NC’s holdings in Dover were worth $13,745,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. True North Advisors LLC raised its holdings in Dover by 2.9% during the first quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 45 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Dover by 0.7% in the 4th quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock valued at $1,472,000 after purchasing an additional 51 shares in the last quarter. KCM Investment Advisors LLC boosted its holdings in Dover by 3.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 53 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Dover by 2.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 56 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of Dover by 1.3% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,678 shares of the industrial products company’s stock worth $975,000 after buying an additional 58 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

NYSE DOV opened at $207.97 on Thursday. The business has a 50 day moving average price of $214.44 and a 200 day moving average price of $215.74. The company has a market capitalization of $28.01 billion, a P/E ratio of 25.06, a PEG ratio of 1.58 and a beta of 1.16. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.98 and a quick ratio of 1.41.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 EPS for the quarter, topping 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 return on equity of 18.32% and a net margin of 13.48%.Dover’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Sell-side analysts expect that Dover Corporation will post 10.67 EPS for the current fiscal year.

Dover Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOV. Royal Bank Of Canada decreased their price target on Dover from $252.00 to $227.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Barclays boosted their target price on shares of Dover from $206.00 to $230.00 and gave the stock an “equal weight” rating in a research 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 note on Friday, April 24th. Finally, 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. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.