Venture Visionary Partners LLC Sells 2,546 Shares of Dover Corporation $DOV

Key Points

• Venture Visionary Partners LLC has significantly reduced its stake in Dover Corporation by 67.9%, owning 1,204 shares after selling 2,546 shares in the first quarter.
• Several brokerages have raised their target prices for Dover stock, with Wells Fargo setting a target of $195 and JPMorgan Chase increasing it to $217, indicating strong analyst confidence in the company's performance.
• Dover Corporation recently announced a quarterly dividend of $0.52 per share, reflecting a positive change and maintaining a 1.1% yield for investors.

Venture Visionary Partners LLC decreased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,204 shares of the industrial products company's stock after selling 2,546 shares during the quarter. Venture Visionary Partners LLC's holdings in Dover were worth $212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. bought a new position in shares of Dover in the 1st quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the 1st quarter worth about $31,000. Costello Asset Management INC bought a new stake in Dover during the 1st quarter valued at about $35,000. Orion Capital Management LLC purchased a new position in shares of Dover in the fourth quarter worth $43,000. Finally, SouthState Corp bought a new position in Dover during the first quarter valued at $43,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DOV shares. Wells Fargo & Company raised their price objective on Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped 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. Barclays increased their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their price objective on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Robert W. Baird increased their target price on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of "Moderate Buy" and an average price target of $213.92.

Dover Stock Performance

Shares of Dover stock traded up $0.65 on Wednesday, reaching $182.86. 323,123 shares of the company were exchanged, compared to its average volume of 1,057,925. 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 $25.08 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.44 and a beta of 1.26. The company's 50-day moving average is $182.43 and its two-hundred day moving average is $180.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is presently 12.55%.

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.