Insider Selling Alert: Dover Corp (NYSE:DOV) CFO Sells $801K Worth of Shares
In a recent move by Dover Corp (NYSE:DOV), Senior VP & CFO Brad M. Cerepak has sold a significant number of shares in the company. Investors tracking insider transactions will note that Cerepak disposed of 4,341 shares of common stock at a price of $184.59 per share, totaling approximately $801,305.
The transaction, which took place on July 31, 2024, was reported in a filing with the Securities and Exchange Commission. Following the sale, Cerepak's direct holdings in Dover Corp now stand at 12,324 shares, with an additional 3,051 shares held indirectly through a 401K Plan.
Dover Corp, known for its construction, mining, and materials handling machinery and equipment, is a Delaware-incorporated company based in Downers Grove, Illinois. Insider transactions like this one often catch the eye of investors looking for insights into company performance.
In other recent news, Dover Corporation has been outperforming expectations in its financial performance. With an adjusted EPS of $1.95 and revenue of $2.09 billion for the second quarter, the company's positive results led Baird to increase its price target for Dover shares to $219, maintaining an Outperform rating.
Additionally, Dover Corporation has been strategically adjusting its portfolio focus towards higher-growth sectors, such as industrial gas. RBC Capital Markets has revised its price target on Dover shares to $193, maintaining a Sector Perform rating.
Furthermore, Terex Corporation announced its acquisition of Environmental Solutions Group from Dover Corporation in a $2 billion deal, expected to enhance Terex's position in the waste and recycling sector.
InvestingPro Insights:
- Dover Corp's commitment to shareholder value is evident in its 54-year track record of increasing dividends.
- With a low P/E ratio of 16.56, the company's stock may be undervalued, offering an attractive entry point for investors.
- Dover's market capitalization is $24.58 billion, with strong financial metrics like a gross profit margin of 37.36% and a return on assets of 13.52%.
For more in-depth analysis and investment tips on Dover Corp, check out the 10 InvestingPro Tips available to help inform your investment decisions.
This article provides valuable insights into recent insider transactions at Dover Corp, offering a glimpse into the company's financial health and performance. Understanding these developments can help investors make informed decisions about their portfolios and potential investment opportunities.