Dover Corporation $DOV Shares Bought by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA boosted its Dover stake by 22.2% in the fourth quarter, adding 10,377 shares and bringing its total holding to 57,159 shares worth about $11.16 million.
• Several Dover insiders sold shares recently, including SVP Ivonne M. Cabrera and CEO Richard J. Tobin, while institutional ownership remains high at 84.46%.
• Dover reported quarterly EPS of $2.28, slightly beating estimates, and recently raised its quarterly dividend to $0.52 per share, implying a 1.0% yield.

Leeward Investments LLC MA raised its stake in Dover Corporation (NYSE:DOV - Free Report) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,159 shares of the industrial products company's stock after acquiring an additional 10,377 shares during the period. Leeward Investments LLC MA's holdings in Dover were worth $11,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Frank Rimerman Advisors LLC raised its holdings in shares of Dover by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company's stock valued at $476,000 after buying an additional 52 shares during the last quarter. Tectonic Advisors LLC raised its holdings in shares of Dover by 1.7% in the fourth quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company's stock valued at $620,000 after buying an additional 54 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Dover by 0.8% in the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company's stock valued at $1,250,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Dover by 14.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 455 shares of the industrial products company's stock valued at $89,000 after buying an additional 59 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Dover by 4.1% in the third quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company's stock valued at $252,000 after buying an additional 59 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president directly owned 72,188 shares of the company's stock, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares of the company's stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

Dover Trading Down 0.3%

NYSE DOV opened at $214.08 on Friday. The stock has a market capitalization of $28.83 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.63 and a beta of 1.21. Dover Corporation has a 52-week low of $158.97 and a 52-week high of $237.54. The firm has a 50-day moving average price of $214.97 and a 200 day moving average price of $205.96. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.01. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.19 billion. Dover had a net margin of 13.30% and a return on equity of 18.01%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Equities research analysts expect that Dover Corporation will post 10.65 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Dover's dividend payout ratio is currently 25.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DOV. Barclays upped their target price on shares of Dover from $206.00 to $230.00 and gave the company an "equal weight" rating in a report on Friday, April 24th. Wall Street Zen raised shares of Dover from a "hold" rating to a "buy" rating in a report on Sunday, May 3rd. Weiss Ratings raised shares of Dover from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 6th. Morgan Stanley set a $210.00 target price on shares of Dover in a report on Wednesday, February 4th. Finally, Wells Fargo & Company raised shares of Dover from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $210.00 to $230.00 in a report on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $237.36.

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.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.