Dover Co. (NYSE:DOV) Receives $192.63 Consensus PT from Analysts

Shares of Dover Co. (NYSE:DOV) have earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $192.63.

DOV has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Mizuho raised their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd.

Insider Buying and Selling

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred on Thursday, August 29th. The shares were 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 $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on 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 directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were 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 directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,565 shares of company stock worth $5,576,733. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dover

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after buying an additional 492,577 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Dover by 153.7% in the 1st 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 acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after purchasing an additional 60,912 shares during the period. Wellington Management Group LLP raised its stake in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after purchasing an additional 414,481 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 2.0 %

Dover stock opened at $178.89 on Thursday. Dover has a 52 week low of $127.25 and a 52 week high of $192.31. 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 $180.36 and its two-hundred day moving average price is $178.29. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.08 and a beta of 1.22.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Dover will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover’s dividend payout ratio is currently 19.79%.

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.