Dover Corporation $DOV Shares Sold by Crews Bank & Trust

Crews Bank & Trust reduced its stake in shares of Dover Corporation (NYSE:DOV) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,597 shares of the industrial products company’s stock after selling 75 shares during the quarter. Crews Bank & Trust’s holdings in Dover were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Legacy Financial Advisors Inc. increased its stake in Dover by 1.4% in the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after purchasing an additional 57 shares during the period. Summit Financial LLC increased its stake in Dover by 0.9% in the first quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after purchasing an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Dover by 0.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock valued at $3,971,000 after purchasing an additional 67 shares during the period. Rockland Trust Co. increased its stake in Dover by 0.4% in the second quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company’s stock valued at $2,819,000 after purchasing an additional 68 shares during the period. Finally, Premier Path Wealth Partners LLC increased its stake in Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 80 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DOV. Wells Fargo & Company lifted their price objective on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Barclays lowered their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup reaffirmed a “buy” rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Robert W. Baird lifted their target price on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.67.

Dover Stock Up 0.1%

DOV stock opened at $166.49 on Friday. The company has a market cap of $22.83 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company’s 50-day moving average price is $175.86 and its 200 day moving average price is $176.59. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last released its quarterly earnings data 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 firm had revenue of $2.05 billion for 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

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

About Dover

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.