Varma Mutual Pension Insurance Co Trims Stock Holdings in Dover Corporation $DOV

Key Points

• Varma Mutual Pension Insurance Co trimmed its stake in Dover by 35.5%, selling 29,318 shares and ending the quarter with 53,188 shares worth about $10.38 million.
• Company insiders sold a total of 82,497 shares in the last 90 days (≈$19.2 million), including CEO Richard Tobin's sale of 76,997 shares (~$17.9 million), a 26.1% reduction in his position.
• Wall Street sentiment is generally positive: Dover has an average rating of "Moderate Buy" with an average target price of $237.36 and several recent price-target upgrades from major firms.

Varma Mutual Pension Insurance Co reduced its stake in Dover Corporation (NYSE:DOV - Free Report) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,188 shares of the industrial products company's stock after selling 29,318 shares during the period. Varma Mutual Pension Insurance Co's holdings in Dover were worth $10,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Financial Life Planners purchased a new stake in Dover in the 3rd quarter valued at about $25,000. Tompkins Financial Corp raised its holdings in Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company's stock valued at $30,000 after buying an additional 77 shares during the period. Westside Investment Management Inc. raised its holdings in Dover by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company's stock valued at $38,000 after buying an additional 114 shares during the period. Cornerstone Planning Group LLC raised its holdings in Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company's stock valued at $44,000 after buying an additional 208 shares during the period. Finally, Torren Management LLC purchased a new stake in Dover in the 4th quarter valued at about $45,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DOV shares. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Dover from a "hold" rating to a "buy" rating in a report on Sunday. Oppenheimer lifted their target price on Dover from $242.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $252.00 target price on shares of Dover in a research report on Friday, April 24th. Finally, Robert W. Baird lifted their target price on Dover from $255.00 to $279.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Dover currently has an average rating of "Moderate Buy" and an average target price of $237.36.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the sale, the chief executive officer owned 217,979 shares of the company's stock, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.10% of the stock is currently owned by corporate insiders.

Dover Stock Performance

NYSE DOV opened at $223.41 on Wednesday. The company has a market cap of $30.08 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The stock has a 50-day moving average of $216.06 and a two-hundred day moving average of $203.62. Dover Corporation has a 1-year low of $158.97 and a 1-year high of $237.54.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. As a group, analysts anticipate that Dover Corporation will post 10.64 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover's payout ratio is currently 25.94%.

About Dover

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.

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