Cramer's Trust Sells 200 Dover Shares at $214 to Fund FedEx Buys
Updated
Updated · CNBC · Jun 4
Cramer's Trust Sells 200 Dover Shares at $214 to Fund FedEx Buys
1 articles · Updated · CNBC · Jun 4
Summary
Jim Cramer's Charitable Trust sold 200 Dover shares at about $214, cutting the holding to 360 shares and reducing its portfolio weight to roughly 2% from 3%.
The sale raises cash for planned purchases of FedEx and FedEx Freight, which the trust rates more highly and wants flexibility to build on any post-breakup volatility.
Dover has slipped about 5% since the Iran war began in late February and has failed to break out despite strong first-quarter orders, leaving the trust unconvinced near-term catalysts are in place.
Management's still-unused cash position and lack of acquisitions or portfolio moves have kept the stock in 'no man's land,' even with exposure to AI-linked liquid cooling and grid upgrades.
The trust said it is locking in an average gain of about 20% on Dover shares bought in 2024 while rotating toward industrial names it sees as offering better upside.