Cerity Partners LLC Raises Stake in Dover Corporation $DOV

Cerity Partners LLC boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 34.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,061 shares of the industrial products company’s stock after buying an additional 23,298 shares during the quarter. Cerity Partners LLC owned 0.07% of Dover worth $15,192,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOV. Harbour Investments Inc. raised its holdings in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Dover by 4.9% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after buying an additional 60 shares during the last quarter. Certuity LLC lifted its holdings in shares of Dover by 2.5% in the 2nd quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after buying an additional 64 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Dover by 4.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 64 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. BNP Paribas began coverage on shares of Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Oppenheimer upped their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Finally, Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.09.

Dover Stock Performance

Shares of NYSE:DOV opened at $201.68 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a market capitalization of $27.66 billion, a PE ratio of 12.40, a P/E/G ratio of 1.41 and a beta of 1.31. The business’s 50 day moving average price is $190.72 and its 200-day moving average price is $181.97.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.Dover has set its FY 2025 guidance at 9.500-9.600 EPS. As a group, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. Dover’s payout ratio is currently 12.79%.

Dover Company Profile

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.