DOWNERS GROVE, Ill.—Girish Juneja, Senior Vice President and Chief Digital Officer of Dover Corp (NYSE:DOV), recently sold 1,000 shares of the company's common stock. The shares were sold at a price of $201.62 each, totaling $201,620. Following this transaction, Juneja holds 8,345 shares directly. Additionally, he maintains an indirect ownership of 582 shares through a 401K plan.
This transaction was reported in a filing with the Securities and Exchange Commission. Dover Corp, headquartered in Downers Grove, Illinois, operates in the construction, mining, and materials handling machinery and equipment sector.
In other recent news, Dover Corp has been in the spotlight following a series of financial developments. Goldman Sachs has adjusted Dover Corp's stock price target to $202, maintaining a Buy rating. This adjustment comes on the back of a positive outlook for the company going into 2025, with an anticipated 3-5% organic growth and an EPS range of $9.15-$9.65.
Moreover, Dover Corp reported a robust third-quarter performance in 2024, with consolidated segment margins reaching a record 22.6%, and a 6% increase in adjusted earnings per share from continuing operations. The company also provided a positive 2025 outlook, projecting a rebased earnings per share of $8.60 to $8.75, with potential additional growth from organic performance.
Furthermore, Wolfe Research upgraded Dover Corp from Peer Perform to Outperform, following the company's strong third-quarter results and refined portfolio strategy. The research firm sees potential for sales growth acceleration in 2025, despite the challenges faced by certain segments. These are the latest developments for Dover Corp, providing investors with insights into the company's financial health and future prospects.
InvestingPro Insights
Dover Corp's recent insider sale comes at a time when the company's stock is trading near its 52-week high, with a price that is 98.75% of its peak. This aligns with the InvestingPro Tip indicating that Dover is "Trading near 52-week high," suggesting strong market confidence in the company's performance.
The company's financial health appears robust, with InvestingPro Data showing a market capitalization of $27.68 billion and a P/E ratio of 17.94. Dover's revenue for the last twelve months as of Q3 2024 stands at $8.47 billion, with a revenue growth of 7.02% over the same period. This growth, coupled with an EBITDA growth of 8.77%, paints a picture of steady expansion.
An InvestingPro Tip highlights that Dover "Has raised its dividend for 53 consecutive years," which is particularly noteworthy for income-focused investors. The company's current dividend yield is 1.02%, with a dividend growth of 0.98% over the last twelve months. This consistent dividend increase demonstrates Dover's commitment to shareholder returns and financial stability.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Dover Corp, providing a deeper understanding of the company's financial position and market outlook.
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