Dover Corporation (NYSE:DOV) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE decreased its holdings in Dover Corporation by 1.3%, owning 108,314 shares valued at approximately $19 million after selling 1,476 shares in the first quarter.
• Several institutional investors, such as Brighton Jones LLC and Federated Hermes Inc., have increased their positions in Dover, highlighting strong interest from the investment community.
• Wall Street analysts have optimistic price targets for Dover, with updates from Barclays, Citigroup, and Mizuho setting targets between $193.00 and $226.00, reflecting a general "buy" sentiment.

US Bancorp DE lessened its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,314 shares of the industrial products company's stock after selling 1,476 shares during the quarter. US Bancorp DE owned 0.08% of Dover worth $19,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ecofi Investissements SA grew its holdings in shares of Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after buying an additional 50 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after purchasing an additional 67 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after purchasing an additional 69 shares during the period. Colonial Trust Co SC lifted its stake in Dover by 11.1% during the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after acquiring an additional 72 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its position in shares of Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares during the period. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DOV shares. Barclays lifted 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. Royal Bank Of Canada raised their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target for the company. Finally, Citigroup reissued a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded down $0.40 during midday trading on Thursday, hitting $173.90. The company had a trading volume of 719,469 shares, compared to its average volume of 1,072,931. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a fifty day moving average of $182.42 and a two-hundred day moving average of $182.65. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.41 and a beta of 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly 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 business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.36 EPS. On average, equities research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover 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.