Insider Selling: Dover Co. (NYSE:DOV) CFO Sells $801,305.19 in Stock

Dover Co. (NYSE:DOV) CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Dover Stock Performance

NYSE DOV opened at $175.42 on Friday. The stock has a market cap of $24.11 billion, a P/E ratio of 16.85, a PEG ratio of 2.13 and a beta of 1.22. The company’s 50-day simple moving average is $181.14 and its 200 day simple moving average is $173.90. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 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 previous year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that Dover Co. will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is currently 19.60%.

Institutional Trading of Dover

Several large investors have recently added to or reduced their stakes in DOV. Price T Rowe Associates Inc. MD grew its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares during the last quarter. Norges Bank bought a new stake in Dover during the fourth quarter worth about $175,275,000. Franklin Resources Inc. grew its stake in Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after buying an additional 492,577 shares during the last quarter. Wellington Management Group LLP grew its stake in Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the last quarter. Finally, Interval Partners LP bought a new stake in Dover during the first quarter worth about $49,195,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

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.