Wells Fargo MN trims its holdings in Dover Co. by 0.4% in the fourth quarter

As of its most recent disclosure with the Securities & Exchange Commission (SEC), Wells Fargo & Company MN has trimmed its holdings in Dover Co. by 0.4% in the fourth quarter, allowing them to obtain worth $325,483,000. This move follows an industry trend as several equities research analysts including Citigroup, Deutsche Bank Aktiengesellschaft, and Robert W. Baird issued reports regarding their analysis of shares of Dover Co.

Citigroup raised the price objective of the company from $175.00 to $184.00 and rated the stock as a “buy” on March 6th. In contrast, Deutsche Bank Aktiengesellschaft cut the price target on April 12th from $147.00 to $145.00 and gave a “hold” rating for the company. Robert W. Baird also lowered their price target from $176.00 to $170 on April 26th.

Despite mixed reviews, Bloomberg data indicates that five investment analysts hold a “hold” rating while nine have rated it as a buy stock. The current average rating for Dover Co.’s stock is estimated by Bloomberg as “Moderate Buy”, with an average target price of $162.31.

Dover Co.’s shares opened at a market cap of $19.49 billion and were initially valued at $139.38 on Monday, June 6th with fluctuating values over time indicating different highs and lows throughout its lifetime in market capitalization.

DOV’s financial situation indicates they have a low debt-to-equity ratio of .66 with promising liquidity ratios such as having a quick ratio of .76 and a current ratio of 1.32.

It seems that despite lower ratings than past stocks analyzed by financial critics this year – over-all there remains enthusiastic hope in its future potential earnings making now an ideal time for prospective growth-oriented investors to get involved with Dover Co.

Dover Corporation sees stock purchases by institutional investors and hedge funds, insider selling, and meets Q1 expectations

Dover Corporation, a major industrial products company based in Downers Grove, Illinois, has been on the move lately. In the first quarter of 2023, several hedge funds acquired new stakes in shares of Dover, including Fairfield Bush & Co., which acquired a stake valued at about $48,000. The Healthcare of Ontario Pension Plan Trust Fund also acquired a new stake worth approximately $938,000. Meanwhile, Raymond James Trust N.A., Vontobel Holding Ltd., and SEI Investments Co. all raised their positions in Dover shares by anywhere from 5.8% to 6.5%.

These moves made by institutional investors and hedge funds have had an impact on the company’s stock price and overall performance this year. Analysts have been keeping close tabs on Dover these days too: several equities research analysts recently issued reports regarding the company’s stock ratings and price targets.

In March 2023, CFO Brad M. Cerepak sold nearly 35,000 shares of Dover stock for over $5 million — an insider sale that represented just over 1% of the company’s total shares. As of June 2023, insiders still own around 1.30% of the company’s stock.

On Wednesday, April 26th of this year, Dover posted its quarterly earnings data and met analyst expectations with an EPS of $1.94 per share for the quarter. The business reported revenue of $2.08 billion during Q1 of this fiscal year as well — up from last year’s numbers by about 1.4%. The firm anticipates posting around nine EPS for the current fiscal year.

Lastly but certainly not leastly: shareholders will be pleased to know that Dover recently disclosed a quarterly dividend payment that will be paid out on June 15th to those who were shareholders as of May 31st — representing a payout ratio that currently stands at almost 27%.