Insider Selling: Dover Co. (NYSE:DOV) SVP Sells 1,220 Shares of Stock

Dover Co. (NYSE:DOV) SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Dover Price Performance

Shares of NYSE:DOV opened at $186.03 on Friday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The stock’s 50 day moving average is $180.50 and its 200-day moving average is $177.33. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV) last announced its 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. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Sell-side analysts forecast that Dover Co. will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is 19.79%.

Institutional Investors Weigh In On Dover

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. LRI Investments LLC bought a new stake in shares of Dover during the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. boosted its stake in shares of Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the period. Fairscale Capital LLC purchased a new stake in Dover in the 2nd quarter worth approximately $34,000. Northwest Financial Advisors purchased a new stake in shares of Dover in the 4th quarter worth about $36,000. Finally, Transcendent Capital Group LLC lifted its holdings in shares of Dover by 208.0% during the first 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 in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of several research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Mizuho increased their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.63.

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.