QRG Capital Management Inc. Sells 64,607 Shares of Dover Corporation $DOV

QRG Capital Management Inc. cut its holdings in Dover Corporation (NYSE:DOV) by 52.4% in the third quarter, HoldingsChannel reports. The firm owned 58,783 shares of the industrial products company’s stock after selling 64,607 shares during the quarter. QRG Capital Management Inc.’s holdings in Dover were worth $9,807,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. AdvisorShares Investments LLC bought a new stake in shares of Dover in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Dover by 122.4% during 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 purchasing an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new stake in Dover during the 2nd quarter valued at $31,000. Harbour Investments Inc. boosted its stake in 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 buying an additional 60 shares during the period. Finally, Investment Research & Advisory Group Inc. bought a new position in Dover during the second quarter valued at $33,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $206.75 on Friday. The company’s fifty day moving average price is $193.32 and its 200-day moving average price is $182.73. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The firm has a market capitalization of $28.36 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31.

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

Dover Dividend Announcement

The company also recently announced 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 of this dividend was Friday, November 28th. Dover’s payout ratio is 12.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction dated 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 owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lifted their price target on shares of Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. BNP Paribas assumed coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Oppenheimer lifted their price objective on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $199.00 target price on shares of Dover in a report on Thursday. Finally, Morgan Stanley upped their price target on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.09.

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.