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 position in Dover Corporation (NYSE:DOV - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in Dover during the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover in the 1st quarter worth approximately $31,000. Orion Capital Management LLC acquired a new stake in Dover in the 4th quarter worth approximately $43,000. Ameriflex Group Inc. acquired a new stake in Dover during the 4th quarter valued at approximately $69,000. Finally, Quarry LP lifted its stake in Dover by 257.0% during the 4th quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 293 shares during the period. Institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.6%

NYSE:DOV traded up $1.00 during mid-day trading on Tuesday, hitting $177.10. The stock had a trading volume of 1,085,079 shares, compared to its average volume of 1,237,118. The company has a market capitalization of $24.29 billion, a PE ratio of 10.68, a PEG ratio of 1.40 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. 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 stock has a 50-day simple moving average of $182.61 and a two-hundred day simple moving average of $182.75.

Dover (NYSE:DOV - Get Free Report) last announced 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 business 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%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Royal Bank Of Canada set a $206.00 price target on shares of Dover and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $213.92.

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.