Dover (NYSE:DOV) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Dover Corporation (NYSE:DOV)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $209.56 and traded as high as $210.45. Dover shares last traded at $210.1480, with a volume of 1,556,740 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings lowered Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $255.00 to $240.00 in a research report on Friday, July 24th. Royal Bank Of Canada raised their price target on Dover from $216.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Finally, Mizuho reduced their price target on Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $238.60.

Dover Price Performance

The stock has a 50 day moving average of $193.97 and a two-hundred day moving average of $209.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. The firm has a market capitalization of $27.62 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.81 and a beta of 1.13.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. Dover had a net margin of 13.60% and a return on equity of 18.68%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.62 earnings per share. Sell-side analysts predict that Dover Corporation will post 10.72 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 24.48%.

Institutional Investors Weigh In On Dover

Several hedge funds have recently modified their holdings of the business. True North Advisors LLC boosted its stake in shares of Dover by 2.9% in the first quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock worth $336,000 after acquiring an additional 45 shares during the last quarter. North Dakota State Investment Board increased its position in shares of Dover by 1.2% during the third quarter. North Dakota State Investment Board now owns 4,082 shares of the industrial products company’s stock worth $764,000 after purchasing an additional 50 shares in the last quarter. Nilsine Partners LLC raised its stake in Dover by 2.7% in the 2nd quarter. Nilsine Partners LLC now owns 1,967 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 52 shares during the last quarter. BOKF NA raised its stake in Dover by 0.7% in the 3rd quarter. BOKF NA now owns 8,133 shares of the industrial products company’s stock valued at $1,521,000 after purchasing an additional 54 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in Dover by 2.2% in the 3rd quarter. MGO One Seven LLC now owns 2,804 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 60 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.