Game Plan Financial Advisors LLC Trims Stock Position in Dover Corporation $DOV

Key Points

• Game Plan Financial Advisors LLC significantly reduced its stake in Dover Corporation by 97.8%, owning only 187 shares worth $33,000 after selling 8,397 shares in the first quarter.
• Dover Corporation reported a quarterly earnings per share (EPS) of $2.44, exceeding analysts' expectations of $2.39, and also announced a quarterly dividend of $0.52.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $213.92, following several upgrades from various investment banks.

Game Plan Financial Advisors LLC lowered its position in Dover Corporation (NYSE:DOV - Free Report) by 97.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187 shares of the industrial products company's stock after selling 8,397 shares during the quarter. Game Plan Financial Advisors LLC's holdings in Dover were worth $33,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Capital Inc. bought a new position in Dover in the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in Dover during the 1st quarter valued at $31,000. Truvestments Capital LLC boosted its position in Dover by 1,005.9% during the 1st 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 in the last quarter. Costello Asset Management INC bought a new stake in Dover during the 1st quarter valued at $35,000. Finally, Orion Capital Management LLC bought a new stake in Dover during the 4th quarter valued at $43,000. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on DOV shares. Robert W. Baird increased their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their target price on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Down 2.8%

Shares of DOV traded down $4.95 during midday trading on Friday, hitting $173.15. 1,133,052 shares of the company's stock traded hands, compared to its average volume of 817,281. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.27. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average is $181.34 and its 200-day moving average is $178.30. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover's dividend payout ratio (DPR) is 12.55%.

Dover Company Profile

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.