Vest Financial LLC Sells 22,299 Shares of Dover Corporation $DOV

Vest Financial LLC reduced its position in Dover Corporation (NYSE:DOV) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 360,129 shares of the industrial products company’s stock after selling 22,299 shares during the quarter. Dover makes up about 0.8% of Vest Financial LLC’s portfolio, making the stock its 28th largest position. Vest Financial LLC owned 0.26% of Dover worth $60,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorShares Investments LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in 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 buying an additional 93 shares during the period. Caldwell Trust Co acquired a new stake in shares of Dover during the 2nd quarter worth approximately $31,000. Harbour Investments Inc. lifted 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 acquiring an additional 60 shares during the period. Finally, Investment Research & Advisory Group Inc. bought a new stake in Dover in the second quarter valued at $33,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their position. The transaction 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 business’s stock in a transaction 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 sale, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.20% of the company’s stock.

Dover Price Performance

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

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. Dover had a return on equity of 17.62% and a net margin of 28.37%.Dover’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. On average, equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.52 dividend. The ex-dividend date was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is presently 12.79%.

Analysts Set New Price Targets

A number of analysts recently commented on DOV shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Oppenheimer boosted their price objective on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Barclays increased their target price on Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a research note on Sunday, January 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dover from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.