Investor Activity in Dover
Several big investors have adjusted their holdings in Dover. USA Financial Formulas bought new shares worth $850,000 in Q3. Patten Group Inc. increased their stake by 2.9% to 5,036 shares, now valued at $966,000 after purchasing 140 more shares. Wedmont Private Capital raised its share count by 11.2%, owning 2,414 shares valued at $453,000. CWM LLC boosted its stake by 5.3% to 2,639 shares worth $506,000. Dynamic Advisor Solutions LLC increased its ownership by 11.5%, holding 1,774 shares valued at $340,000. Overall, institutional investors own 84.46% of Dover’s stock.
Insider Sales
CEO Richard J. Tobin sold 25,004 shares on August 21 for $4.55 million. He now holds 182,928 shares, valued at about $33.29 million, representing no change in ownership percentage. CFO Brad M. Cerepak sold 4,341 shares on July 31 for $801,305.19 and now owns 12,324 shares worth $2.27 million. Insiders sold 45,383 shares totaling $8.17 million last quarter, and 1.30% of shares are owned by insiders.
Dover Stock Performance
Dover stock rose by 0.2% to $186.38, with nearly 944,733 shares traded. The market cap is $25.61 billion, with a PE ratio of 17.87 and a year low of $127.25, high of $194.75. The most recent quarterly earnings showed $2.36 per share, surpassing estimates of $2.21, with a 3.7% revenue increase year-over-year. Analysts expect an EPS of 9.17 for the fiscal year.
Dividend Increase
Dover recently announced a quarterly dividend of $0.515 paid on September 16, up from $0.51. This yields 1.11%, with a payout ratio of 19.79%.
Analyst Ratings
Recent analyst reports include upgrades from various firms. Robert W. Baird maintained an outperform rating with a $208 target. Royal Bank of Canada raised its target from $192 to $193, and Wolfe Research changed to a hold rating. The average target price across analysts is $194, classifying it as a Moderate Buy.
About Dover
Dover Corporation offers a variety of industrial equipment, components, aftermarket parts, software, and support services globally, catering to sectors like aerospace, defense, and waste management.
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