Several large investors have recently adjusted their stakes in Dover. USA Financial Formulas bought $850,000 worth of new shares in the third quarter. Patten Group Inc. increased its holdings by 2.9%, now owning 5,036 shares valued at $966,000 after acquiring 140 additional shares. Wedmont Private Capital raised its stake by 11.2%, owning now 2,414 shares worth $453,000 after buying 244 more. CWM LLC’s stake increased by 5.3%, holding 2,639 shares valued at $506,000 after adding 132 shares. Dynamic Advisor Solutions LLC expanded by 11.5%, now with 1,774 shares worth $340,000 after purchasing 183. Overall, institutional investors and hedge funds hold 84.46% of the companys stock.
Insider Activity at Dover
CEO Richard J. Tobin sold 25,004 shares on August 21 for $4,549,727.84, but still owns 182,928 shares valued at $33,285,578.88, a 0.00% change in ownership. CFO Brad M. Cerepak also sold 4,341 shares on July 31 for $801,305.19, retaining 12,324 shares worth $2,274,887.16. Insider sales totaled 45,383 shares valued at $8,169,883, with insiders owning 1.30% of the stock.
Dover Stock Performance
Dover’s stock rose by 0.2%, reaching $186.38. In total, 944,733 shares were traded, slightly below the average volume. The company’s market cap is $25.61 billion, with a PE ratio of 17.87. The stock has had a low of $127.25 and a high of $194.75 over the past year.
Dover reported quarterly earnings on July 25, with earnings per share of $2.36, surpassing estimates by $0.15. Revenue was $2.18 billion, above the $2.15 billion expectation, marking a 3.7% year-over-year increase.
Dover Increases Dividend
Dover announced a quarterly dividend of $0.515 per share, paid on September 16, slightly up from the previous $0.51. This gives an annual yield of 1.11% and a payout ratio of 19.79%.
Analyst Ratings
Analysts have varying views on DOV. Robert W. Baird maintains an outperform rating with a price target of $208. Royal Bank of Canada raised its target to $193, rating it as sector perform. Wolfe Research upgraded to hold, and Barclays set a new target of $190. Mizuho also increased its target from $185 to $200. Currently, there are four hold ratings and seven buy ratings, with a consensus target of $194.00.
About Dover
Dover Corporation specializes in providing worldwide equipment, components, consumables, aftermarket parts, software, and support services across various sectors.
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