Truist Financial Corp Decreases Stock Holdings in Dover Corporation $DOV

Truist Financial Corp lessened its holdings in Dover Corporation (NYSE:DOV) by 18.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,390 shares of the industrial products company’s stock after selling 8,737 shares during the quarter. Truist Financial Corp’s holdings in Dover were worth $6,238,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. AdvisorShares Investments LLC purchased a new position in Dover in the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new position in shares of Dover in the 2nd quarter valued at $31,000. Harbour Investments Inc. raised its stake in Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 60 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Dover in the second quarter valued at $37,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction on Friday, November 28th. The stock was 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 $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s 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 sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on DOV shares. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays set a $206.00 price target on Dover in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Robert W. Baird set a $255.00 target price on shares of Dover in a report on Friday. Finally, Royal Bank Of Canada increased their price target on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.75.

Dover Stock Up 2.9%

DOV stock opened at $207.41 on Tuesday. The stock has a market capitalization of $28.45 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.29. The company has a fifty day moving average of $198.63 and a 200-day moving average of $184.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio (DPR) is currently 26.20%.

About Dover

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.