Inspire Investing LLC Cuts Position in Dover Co. (NYSE:DOV)

Inspire Investing LLC lessened its stake in Dover Co. (NYSE:DOV) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. First Affirmative Financial Network grew its stake in Dover by 19.2% in the 3rd quarter. First Affirmative Financial Network now owns 1,609 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 259 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Dover by 27.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 31,386 shares of the industrial products company’s stock worth $6,018,000 after acquiring an additional 6,800 shares during the last quarter. Tobam raised its holdings in Dover by 33.6% in the third quarter. Tobam now owns 354 shares of the industrial products company’s stock valued at $68,000 after buying an additional 89 shares during the period. Brendel Financial Advisors LLC raised its holdings in Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after buying an additional 17,685 shares during the period. Finally, SS&H Financial Advisors Inc. purchased a new position in Dover in the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DOV shares. Barclays lifted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Mizuho boosted their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Dover Price Performance

Shares of Dover stock opened at $190.69 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 $183.69 and its two-hundred day moving average price is $181.13. Dover Co. has a 52 week low of $127.25 and a 52 week high of $194.75. The stock has a market cap of $26.21 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.20 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. The firm 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%. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 19.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’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 completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Dover 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.