Dover Corporation (NYSE:DOV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Dover Corporation (NYSE:DOV) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $212.2727.

DOV has been the subject of several recent analyst reports. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada raised their price objective on shares of Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. Oppenheimer boosted their target price on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. UBS Group set a $200.00 target price on Dover in a research report on Friday, October 24th. Finally, Robert W. Baird set a $235.00 price target on Dover in a research report on Friday, October 24th.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Dover

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Machina Capital S.A.S. lifted its stake in Dover by 38.8% in the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 2,452 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after purchasing an additional 10,581 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after purchasing an additional 268,931 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Dover by 1,034.4% in the first quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock worth $6,012,000 after purchasing an additional 31,219 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Dover by 4.8% during the first quarter. Raymond James Financial Inc. now owns 171,766 shares of the industrial products company’s stock worth $30,176,000 after buying an additional 7,903 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.4%

DOV stock opened at $190.08 on Friday. The firm has a market cap of $26.07 billion, a PE ratio of 11.69, a P/E/G ratio of 1.44 and a beta of 1.31. Dover has a 12 month low of $143.04 and a 12 month high of $222.31. The firm has a 50 day simple moving average of $175.49 and a 200 day simple moving average of $178.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business had revenue of $1.78 billion during the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Equities research analysts forecast that Dover will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. Dover’s dividend payout ratio is currently 12.79%.

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.