Dover Co. (NYSE:DOV) Shares Sold by Forsta AP Fonden

Posted by Defense World Staff on Jul 8th, 2023

Forsta AP Fonden decreased its holdings in shares of Dover Co. (NYSE:DOV – Free Report) by 57.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,400 shares of the industrial products company’s stock after selling 43,700 shares during the quarter. Forsta AP Fonden’s holdings in Dover were worth $4,923,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. U.S. Capital Wealth Advisors LLC acquired a new stake in Dover during the fourth quarter worth about $29,000. Glass Jacobson Investment Advisors llc acquired a new stake in Dover during the 4th quarter worth approximately $31,000. Concord Wealth Partners acquired a new stake in shares of Dover in the fourth quarter valued at $41,000. Fairfield Bush & CO. acquired a new stake in Dover in the 1st quarter valued at about $48,000. Finally, Crewe Advisors LLC lifted its stake in Dover by 57.7% in the fourth quarter. Crewe Advisors LLC now owns 399 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DOV shares. Bank of America lifted their price target on Dover from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. 92 Resources reiterated a “maintains” rating on shares of Dover in a report on Thursday, April 27th. StockNews.com started coverage on Dover in a report on Thursday, May 18th. They set a “buy” rating for the company. Robert W. Baird reduced their price target on shares of Dover from $176.00 to $170.00 in a report on Wednesday, April 26th. Finally, Barclays decreased their price objective on Dover from $141.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 6th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.31.

Dover Stock Performance

Shares of NYSE:DOV opened at $146.10 on Friday. Dover Co. has a 12 month low of $114.49 and a 12 month high of $160.66. The business has a 50-day moving average of $141.97 and a two-hundred day moving average of $144.21. The firm has a market capitalization of $20.43 billion, a PE ratio of 19.48, a P/E/G ratio of 1.15 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.32 and a quick ratio of 0.76.

Dover (NYSE:DOV – Free Report) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.94. Dover had a return on equity of 28.27% and a net margin of 12.51%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Dover Co. will post 8.99 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, May 30th. Dover’s dividend payout ratio is currently 26.93%.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 17,769 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total value of $2,470,424.07. Following the completion of the sale, the chief financial officer now directly owns 54,569 shares of the company’s stock, valued at $7,586,728.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

About Dover

(Free Report)

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.