Vest Financial LLC Lowers Stock Holdings in Dover Corporation $DOV

Vest Financial LLC cut its position in Dover Corporation (NYSE:DOV) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 360,129 shares of the industrial products company’s stock after selling 22,299 shares during the quarter. Dover accounts for about 0.8% of Vest Financial LLC’s holdings, making the stock its 28th largest holding. Vest Financial LLC’s holdings in Dover were worth $60,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AdvisorShares Investments LLC bought a new position in Dover in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares during the last quarter. Caldwell Trust Co bought a new position in shares of Dover in the 2nd quarter worth $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 valued at $32,000 after buying an additional 60 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in shares of Dover during the 2nd quarter worth $33,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Dover stock opened at $201.32 on Wednesday. The company’s 50 day simple moving average is $194.15 and its 200-day simple moving average is $182.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a market capitalization of $27.61 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.12. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $2.27 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. As a group, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued 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 was Friday, November 28th. Dover’s dividend payout ratio (DPR) is 12.79%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DOV shares. Morgan Stanley raised their price target on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Barclays raised their price objective on Dover from $195.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Robert W. Baird set a $235.00 target price on Dover in a research note on Friday, October 24th. BNP Paribas initiated coverage on shares of Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, UBS Group set a $256.00 target price on shares of Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.09.

Dover Company Profile

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.