Geneos Wealth Management Inc. Sells 3,570 Shares of Dover Corporation $DOV

Geneos Wealth Management Inc. cut its position in shares of Dover Corporation (NYSE:DOV) by 8.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 36,904 shares of the industrial products company’s stock after selling 3,570 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Dover were worth $7,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. Bank of New York Mellon Corp boosted its position in Dover by 174.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after acquiring an additional 1,830,722 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Dover by 179.7% in the 4th quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock valued at $489,900,000 after purchasing an additional 1,612,159 shares during the period. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at about $275,907,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Dover during the 4th quarter valued at about $151,473,000. Finally, Auto Owners Insurance Co grew its stake in Dover by 19,424.0% during the fourth quarter. Auto Owners Insurance Co now owns 761,436 shares of the industrial products company’s stock worth $14,866,000 after purchasing an additional 757,536 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Seaport Research Partners boosted their price target on Dover from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Barclays boosted their target price on shares of Dover from $206.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $252.00 price target on shares of Dover in a report on Friday, April 24th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $241.43.

Dover Price Performance

Shares of DOV opened at $217.49 on Friday. The business’s fifty day moving average is $216.41 and its 200 day moving average is $215.05. Dover Corporation has a 12-month low of $158.97 and a 12-month high of $237.54. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $29.29 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.61 and a beta of 1.16.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01. Dover had a net margin of 13.30% and a return on equity of 18.01%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business posted $2.05 EPS. Dover’s quarterly revenue was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. Sell-side analysts anticipate that Dover Corporation will post 10.65 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is presently 25.94%.

Dover 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.