Trust Co. of Toledo NA OH sells 100 shares of Dover Co. (NYSE: DOV)

VaselineOctober 5, 2024

0 4 minutes read

Trust Co. of Toledo NA OH reduced its position in Dover Co. (NYSE:DOV – Free Report) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 3,425 shares of the industrial products company’s stock after selling 100 shares during the period. Investments Trust Co. of Toledo NA OH in Dover were worth $657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. American Century Companies Inc. raised its stake in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after acquiring an additional 414,481 shares during the period. Interval Partners LP grew its position in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Dover in the second quarter valued at about $17,323,000. Hedge funds and other institutional investors own 84.46% of the company’s shares.

Dover trading down 0.3%

Shares of DOV stock opened at $189.64 on Friday. The stock has a market cap of $26.06 billion, a PE ratio of 18.22, a P/E/G ratio of 2.27 and a beta of 1.22. The company’s fifty-day moving average is $182.99, and its 200-day moving average is $180.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95, and a current ratio of 1.53. Dover Co. it has a fifty-two week low of $127.25 and a fifty-two week high of $194.75.

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Dover (NYSE:DOV – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. In the same period last year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 3.7% year over year. Sell-side analysts expect that Dover Co. to post 9.17 earnings per share for the current fiscal year.

Dover increases dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This represents an annualized dividend of $2.06 and a dividend yield of 1.09%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30. Dover’s dividend payout ratio is currently 19.79%.

Indoor activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 over the last quarter. 1.30% of shares are owned by company insiders.

Analyst upgrades and downgrades

Several research firms have recently commented on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Mizuho boosted their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Barclays upped their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.00, according to MarketBeat.

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Dover profile

(Free report)

Dover Corporation provides equipment and components, supplies, aftermarket parts, software and digital solutions and support services worldwide. The company’s Engineering Products segment offers various equipment, components, software, solutions and services that are used in the vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist and fluid distribution end markets.