Dover (NYSE:DOV) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Dover from $185.00 to $208.00 and gave the company an outperform rating in a research report on Friday. Seaport Res Ptn upgraded shares of Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Mizuho upped their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a report on Friday. Barclays upped 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. Finally, Royal Bank of Canada upped their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. Three 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, the stock has a consensus rating of Moderate Buy and a consensus target price of $185.75.

Dover Trading Up 0.6 %

NYSE:DOV opened at $180.17 on Friday. The firm’s fifty day moving average is $171.75 and its 200-day moving average is $154.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. Dover has a 52 week low of $127.25 and a 52 week high of $181.49. The firm has a market cap of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.85 and a beta of 1.27.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.94 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts expect that Dover will post 9.09 earnings per share for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.13%. Dover’s payout ratio is currently 19.60%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently modified their holdings of the company. BSW Wealth Partners lifted its holdings in shares of Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after buying an additional 59 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 60 shares in the last quarter. Legacy Financial Advisors Inc. boosted its holdings in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares in the last quarter. CWM LLC boosted its holdings in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Dover by 4.0% in the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 68 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.