Dover Co. (NYSE:DOV) Stock Position Reduced by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in Dover Co. (NYSE:DOV) by 19.9% in the 2nd quarter, HoldingsChannel.com reports. 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 SEC filing.

Several other large investors also recently added to or reduced their stakes in DOV. Avantax Advisory Services Inc. bought a new stake in Dover in the fourth quarter worth approximately $247,000. Norges Bank acquired a new stake in shares of Dover in the fourth quarter worth $175,275,000. Coldstream Capital Management Inc. lifted its stake in shares of Dover by 17.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,938 shares of the industrial products company’s stock worth $452,000 after buying an additional 447 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Dover by 6.3% in the fourth quarter. Assetmark Inc. now owns 39,389 shares of the industrial products company’s stock worth $6,058,000 after buying an additional 2,330 shares during the last quarter. Finally, Commerce Bank lifted its stake in shares of Dover by 4.8% in the fourth quarter. Commerce Bank now owns 55,719 shares of the industrial products company’s stock worth $8,570,000 after buying an additional 2,530 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the SEC, which is available through this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

Dover Stock Performance

Dover stock opened at $186.01 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The company has a market cap of $25.56 billion, a PE ratio of 17.87, a PEG ratio of 2.17 and a beta of 1.22. The company’s 50-day moving average is $181.40 and its two-hundred day moving average is $179.15.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share 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 business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm earned $2.05 EPS. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Dover Co. will post 9.17 earnings per share for the current 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 paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 19.79%.

Dover Company 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.