Heartland Bank & Trust Co Sells 2,883 Shares of Dover Corporation $DOV

Heartland Bank & Trust Co lessened its stake in Dover Corporation (NYSE:DOV) by 70.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200 shares of the industrial products company’s stock after selling 2,883 shares during the period. Heartland Bank & Trust Co’s holdings in Dover were worth $234,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its position in Dover by 6.4% in the 4th quarter. QRG Capital Management Inc. now owns 62,545 shares of the industrial products company’s stock worth $12,211,000 after purchasing an additional 3,762 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its position in Dover by 149.6% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,192 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 1,913 shares during the period. Wolverine Asset Management LLC bought a new stake in Dover in the 4th quarter worth approximately $2,440,000. Truist Financial Corp grew its position in shares of Dover by 5.0% during the 4th quarter. Truist Financial Corp now owns 39,259 shares of the industrial products company’s stock valued at $7,665,000 after acquiring an additional 1,869 shares during the period. Finally, Sun Financial Inc bought a new stake in shares of Dover during the 4th quarter valued at $284,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOV. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $229.00 price objective on shares of Dover in a research report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of Dover in a research report on Friday, April 24th. Morgan Stanley set a $210.00 price objective on shares of Dover in a research report on Wednesday, February 4th. BMO Capital Markets boosted their price objective on shares of Dover from $237.00 to $250.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $252.00 price objective on shares of Dover in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 82,497 shares of company stock worth $19,196,277. 1.10% of the stock is owned by corporate insiders.

Dover Stock Down 2.2%

DOV opened at $220.85 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.87. Dover Corporation has a fifty-two week low of $158.97 and a fifty-two week high of $237.54. The firm’s fifty day moving average is $216.25 and its 200 day moving average is $203.19. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Dover’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, sell-side analysts forecast that Dover Corporation will post 10.64 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s payout ratio is 25.94%.

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.