Dover Co. (NYSE:DOV) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in shares of Dover Co. (NYSE:DOV) by 19.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,143 shares of the industrial products company’s stock after selling 3,515 shares during the quarter. Inspire Investing LLC’s holdings in Dover were worth $2,552,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Dover during the first quarter worth approximately $28,000. McClarren Financial Advisors Inc. raised its stake in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Dover during the second quarter worth approximately $41,000. Transcendent Capital Group LLC raised its stake in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Finally, North Star Investment Management Corp. raised its stake in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird reissued an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note 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 research note on Friday, July 26th. Finally, Mizuho raised their target price on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Price Performance

Shares of DOV stock opened at $186.01 on Thursday. The firm has a market cap of $25.56 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.17 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The firm has a fifty day moving average of $181.40 and a two-hundred day moving average of $179.15.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $2.05 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s payout ratio is 19.79%.

Insiders Place Their Bets

In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.