Sun Sep 15 14:13:26 UTC 2024: ## Hedge Funds Adjust Stakes in Dover Corporation While Insiders Sell Shares

**New York, NY (MarketBeat News)** – Forsta AP Fonden reduced its stake in Dover Corporation (NYSE:DOV) by 16% in the second quarter, according to its recent Form 13F filing with the SEC. This follows a trend of various hedge funds adjusting their positions in the industrial products company during the recent quarter.

While Forsta AP Fonden sold 5,600 shares, other hedge funds like McClarren Financial Advisors Inc. increased their holdings significantly. McClarren boosted its stake by 4,400%, now owning 180 shares valued at $32,000.

Meanwhile, insiders at Dover have been actively selling shares. CFO Brad M. Cerepak sold 14,818 shares for $2,593,150 on September 6th, while CEO Richard J. Tobin sold 25,004 shares for $4,549,727.84 on August 21st. In total, insiders have sold 45,383 shares worth $8,169,883 in the last 90 days.

Despite these sales, Dover recently reported strong earnings, exceeding analyst expectations for both EPS and revenue. The company’s quarterly revenue increased by 3.7% year-over-year, and analysts anticipate Dover to post earnings of 9.17 per share for the current year.

Dover also declared a quarterly dividend of $0.515 per share, an increase from the previous quarter’s dividend.

The recent activity by hedge funds and insiders suggests varying perspectives on Dover’s future performance. Investors should consider these developments along with the company’s strong earnings report and dividend increase when making investment decisions.

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