Dover Corporation $DOV Shares Sold by Town & Country Bank & Trust CO dba First Bankers Trust CO

Town & Country Bank & Trust CO dba First Bankers Trust CO reduced its stake in Dover Corporation (NYSE:DOV) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,493 shares of the industrial products company’s stock after selling 195 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Dover were worth $1,373,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in shares of Dover by 707.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Dover by 45.4% in the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co acquired a new stake in shares of Dover in the 1st quarter valued at $739,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after purchasing an additional 268,931 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on DOV. Wells Fargo & Company increased their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Citigroup reaffirmed a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Mizuho raised their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, Barclays raised their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.92.

Dover Stock Performance

Shares of DOV opened at $170.26 on Tuesday. The stock has a market cap of $23.35 billion, a P/E ratio of 10.27, a PEG ratio of 1.36 and a beta of 1.27. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $179.30 and a two-hundred day moving average of $177.29.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s payout ratio is presently 12.55%.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.