Dover Co. (NYSE:DOV) CFO Brad M. Cerepak Sells 14,818 Shares

Dover Co. (NYSE:DOV) CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dover Price Performance

Shares of Dover stock opened at $186.63 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $180.76 and its two-hundred day moving average price is $178.50. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The stock has a market cap of $25.65 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover’s payout ratio is 19.79%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Mizuho lifted their price objective 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. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently bought and sold shares of DOV. LRI Investments LLC acquired a new position in shares of Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. boosted its stake in Dover by 4,400.0% in the 2nd 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. Fairscale Capital LLC purchased a new position in Dover during the 2nd quarter worth approximately $34,000. Transcendent Capital Group LLC raised its stake in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover in the second quarter valued at $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Dover

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.