Mitsubishi UFJ Trust & Banking Corp Sells 3,225 Shares of Dover Co. (NYSE:DOV)

Posted by Defense World Staff on Aug 20th, 2023

Mitsubishi UFJ Trust & Banking Corp lowered its position in Dover Co. (NYSE:DOV – Free Report) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,593 shares of the industrial products company’s stock after selling 3,225 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Dover worth $13,765,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC purchased a new position in Dover in the fourth quarter worth $29,000. Glass Jacobson Investment Advisors llc purchased a new position in Dover during the 4th quarter worth $31,000. Orion Capital Management LLC acquired a new position in Dover during the 1st quarter valued at about $35,000. Fairfield Bush & CO. purchased a new stake in Dover in the first quarter valued at about $48,000. Finally, Crewe Advisors LLC boosted its holdings 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 in the last quarter. Institutional investors own 83.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Dover in a report on Thursday. They set a “buy” rating on the stock. Robert W. Baird raised their price target on shares of Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Dover from $155.00 to $152.00 in a report on Monday, July 10th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average target price of $162.38.

Read Our Latest Stock Analysis on DOV

Dover Stock Up 0.6 %

Shares of DOV opened at $140.57 on Friday. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.36 and a beta of 1.34. Dover Co. has a 52 week low of $114.49 and a 52 week high of $160.66. The stock’s 50-day moving average price is $145.47 and its 200-day moving average price is $145.63. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.64.

Dover (NYSE:DOV – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.16). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Dover had a return on equity of 27.33% and a net margin of 12.04%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 EPS. On average, sell-side analysts predict that Dover Co. will post 8.89 EPS for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.51 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 27.98%.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 17,769 shares of the company’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 transaction, the chief financial officer now owns 54,569 shares of the company’s stock, valued at approximately $7,586,728.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Dover Company Profile

(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.