Inspire Investing LLC Sells 441 Shares of Dover Co. (NYSE:DOV)

Inspire Investing LLC cut its holdings in shares of Dover Co. (NYSE:DOV) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 13,702 shares of the industrial products company’s stock after selling 441 shares during the quarter. Inspire Investing LLC’s holdings in Dover were worth $2,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. LRI Investments LLC acquired a new position in shares of Dover in the first quarter valued at $28,000. McClarren Financial Advisors Inc. raised its stake in shares of Dover by 4,400.0% in 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 in the last quarter. Fairscale Capital LLC acquired a new position in shares of Dover in the second quarter valued at $34,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Dover in the second quarter valued at $41,000. Finally, Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% in 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 and hedge funds.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent research reports. Royal Bank of Canada upped 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. Barclays upped their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Wells Fargo & Company upped their price target on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Mizuho upped their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Dover Price Performance

Shares of DOV stock opened at $190.69 on Friday. The stock’s fifty day moving average is $183.69 and its 200-day moving average is $181.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The stock has a market capitalization of $26.21 billion, a PE ratio of 18.32, a PEG ratio of 2.20 and a beta of 1.22. Dover Co. has a 52 week low of $127.25 and a 52 week high of $194.75.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. Equities research analysts expect that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.08%. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated 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 directly owns 47,060 shares in the company, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

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.