Grove Bank & Trust Sells 72 Shares of Dover Corporation $DOV

Grove Bank & Trust trimmed its holdings in shares of Dover Corporation (NYSE:DOV) by 6.7% during the second quarter, HoldingsChannel reports. The fund owned 1,008 shares of the industrial products company’s stock after selling 72 shares during the quarter. Grove Bank & Trust’s holdings in Dover were worth $185,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DOV. Brighton Jones LLC boosted its stake in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the last quarter. Twinbeech Capital LP bought a new position in Dover during the fourth quarter worth $323,000. Vident Advisory LLC boosted its stake in Dover by 10.8% during the fourth quarter. Vident Advisory LLC now owns 3,354 shares of the industrial products company’s stock worth $630,000 after acquiring an additional 327 shares in the last quarter. Waverly Advisors LLC bought a new position in Dover during the fourth quarter worth $215,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in Dover during the fourth quarter worth $255,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DOV shares. Robert W. Baird upped their price objective 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. upped their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Barclays upped their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, Citigroup reissued a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $213.92.

Dover Price Performance

Shares of NYSE:DOV opened at $171.26 on Friday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a market cap of $23.48 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.38 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. The company has a 50 day moving average of $179.67 and a 200 day moving average of $177.54.

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

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This is a boost 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 (DPR) 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.