State of Wyoming Sells 1,628 Shares of Dover Corporation $DOV

Key Points

• The State of Wyoming significantly reduced its holdings in Dover Corporation by 71.7%, owning 641 shares valued at $113,000 after selling 1,628 shares during the first quarter.
• Dover recently reported quarterly earnings of $2.44 per share, exceeding analyst expectations, along with a revenue increase of 5.2% year-over-year to $2.05 billion.
• The company declared a quarterly dividend of $0.52, set to be paid on September 15th, maintaining a dividend yield of 1.2%.

State of Wyoming lessened its position in Dover Corporation (NYSE:DOV - Free Report) by 71.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 641 shares of the industrial products company's stock after selling 1,628 shares during the period. State of Wyoming's holdings in Dover were worth $113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DOV. North Capital Inc. acquired a new position in Dover in the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover in the 1st quarter worth about $31,000. Truvestments Capital LLC increased its holdings in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after purchasing an additional 171 shares in the last quarter. Costello Asset Management INC acquired a new position in Dover in the 1st quarter worth about $35,000. Finally, Orion Capital Management LLC acquired a new position in Dover in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Citigroup reiterated a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Robert W. Baird upped their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays upped their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Mizuho upped their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Trading Down 2.8%

NYSE DOV traded down $4.95 during trading hours on Friday, hitting $173.15. 1,133,052 shares of the company's stock were exchanged, compared to its average volume of 817,281. The stock has a 50-day simple moving average of $181.34 and a 200 day simple moving average of $178.30. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 10.44, a PEG 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.

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

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover's dividend payout ratio is currently 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.