Truist Financial Corp Has $4.77 Million Holdings in Dover Co. (NYSE:DOV)

Truist Financial Corp decreased its holdings in shares of Dover Co. (NYSE:DOVGet Rating) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,886 shares of the industrial products company’s stock after selling 659 shares during the quarter. Truist Financial Corp’s holdings in Dover were worth $4,766,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DOV. Fairfield Bush & CO. acquired a new stake in shares of Dover during the 1st quarter worth approximately $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Dover during the 1st quarter worth approximately $938,000. Raymond James Trust N.A. grew its position in shares of Dover by 5.8% during the 1st quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock worth $886,000 after buying an additional 310 shares during the period. Vontobel Holding Ltd. grew its position in shares of Dover by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after buying an additional 561 shares during the period. Finally, Sei Investments Co. grew its position in shares of Dover by 6.1% during the 1st quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after buying an additional 8,054 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DOV. Wells Fargo & Company lifted their price objective on shares of Dover from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 5th. Barclays lifted their price objective on shares of Dover from $122.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 5th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, December 16th. Citigroup lifted their price objective on shares of Dover from $149.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, December 9th. Finally, Mizuho reduced their price objective on shares of Dover from $155.00 to $143.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.27.

Insider Buying and Selling

In related news, VP Anthony K. Kosinski sold 2,203 shares of the business’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $126.18, for a total transaction of $277,974.54. Following the transaction, the vice president now directly owns 5,353 shares in the company, valued at $675,441.54. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Dover Stock Performance

Shares of DOV stock opened at $142.90 on Friday. The company’s fifty day simple moving average is $138.04 and its 200-day simple moving average is $130.52. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 0.71. The firm has a market cap of $20.06 billion, a PE ratio of 17.75, a P/E/G ratio of 1.12 and a beta of 1.34. Dover Co. has a 12 month low of $114.49 and a 12 month high of $182.15.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The industrial products company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 13.93% and a return on equity of 27.62%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Equities research analysts expect that Dover Co. will post 8.44 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a dividend of $0.505 per share. The ex-dividend date was Tuesday, November 29th. This represents a $2.02 dividend on an annualized basis and a yield of 1.41%. Dover’s payout ratio is 25.09%.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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