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Annex Advisory Services LLC Sells 16,168 Shares of Dover Corporation $DOV

Dover logo with Industrials background

Key Points

  • Annex Advisory Services LLC has reduced its stake in Dover Corporation by 79.1%, ending up with 4,272 shares valued at $783,000 after selling 16,168 shares during the 2nd quarter.
  • Several hedge funds, including Vanguard Group Inc. and Invesco Ltd., increased their positions in Dover, with institutional investors now owning 84.46% of the stock.
  • Dover's quarterly earnings surpassed expectations with an EPS of $2.44, and the company is projecting an EPS guidance of 9.350-9.550 for FY 2025.
  • Five stocks to consider instead of Dover.

Annex Advisory Services LLC lessened its holdings in Dover Corporation (NYSE:DOV - Free Report) by 79.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,272 shares of the industrial products company's stock after selling 16,168 shares during the quarter. Annex Advisory Services LLC's holdings in Dover were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in shares of Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dover during the 1st quarter worth $31,000. Truvestments Capital LLC increased its stake in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 171 shares during the period. Costello Asset Management INC acquired a new position in Dover in the first quarter worth $35,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Dover during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Down 0.6%

Shares of NYSE DOV traded down $1.08 during trading on Monday, hitting $170.26. 855,464 shares of the company traded hands, compared to its average volume of 843,781. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a 50-day moving average price of $179.30 and a 200-day moving average price of $177.29. The firm has a market capitalization of $23.35 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.36 and a beta of 1.27. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. Dover's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, equities analysts predict that Dover Corporation will post 9.45 EPS for the current 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 given a $0.52 dividend. This is a boost from Dover's previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DOV shares. Mizuho increased their price target 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. Wells Fargo & Company increased their price objective on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird increased their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Barclays upped their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average price target of $213.92.

Read Our Latest Stock Report on DOV

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

Further Reading

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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