Concurrent Investment Advisors LLC Sells 2,656 Shares of Dover Corporation $DOV

Concurrent Investment Advisors LLC lessened its holdings in Dover Corporation (NYSE:DOV) by 52.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,451 shares of the industrial products company’s stock after selling 2,656 shares during the period. Concurrent Investment Advisors LLC’s holdings in Dover were worth $409,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in shares of Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the last quarter. Norges Bank bought a new position in Dover in the 2nd quarter worth $274,135,000. AQR Capital Management LLC lifted its position in Dover by 912.9% during the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Dover by 133.6% during the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares during the period. Finally, Hsbc Holdings PLC increased its position in Dover by 46.8% in the second quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock worth $165,158,000 after buying an additional 287,362 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DOV shares. UBS Group set a $256.00 price objective on Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $199.00 price target on shares of Dover in a report on Thursday, January 15th. Oppenheimer upped their price target 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. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Finally, Robert W. Baird set a $235.00 target price on shares of Dover in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $218.09.

Dover Trading Down 2.6%

Shares of Dover stock opened at $201.32 on Wednesday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $194.15 and a 200-day moving average price of $182.93. The firm has a market cap of $27.61 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.44 and a beta of 1.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the company earned $2.27 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Dover has set its FY 2025 guidance at 9.500-9.600 EPS. Equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

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

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This trade represents a 3.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by company insiders.

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.