Dover Corporation $DOV Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in Dover Corporation (NYSE:DOV) by 18.9% during the 3rd quarter, Holdings Channel reports. The firm owned 37,390 shares of the industrial products company’s stock after selling 8,737 shares during the quarter. Truist Financial Corp’s holdings in Dover were worth $6,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorShares Investments LLC purchased a new position in Dover during the 2nd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new position in shares of Dover during the 2nd quarter worth approximately $31,000. Harbour Investments Inc. raised its position in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Dover in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This represents a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.20% of the company’s stock.

Dover Stock Up 2.9%

Shares of DOV opened at $207.41 on Tuesday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company’s fifty day moving average is $198.63 and its two-hundred day moving average is $184.05. The firm has a market cap of $28.45 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.20 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio is 26.20%.

Analysts Set New Price Targets

DOV has been the topic of several recent research reports. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup restated a “buy” rating on shares of Dover in a report on Monday, January 12th. Robert W. Baird set a $255.00 price target on shares of Dover in a report on Friday. BNP Paribas Exane began coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.75.

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.