Dover Co. (NYSE:DOV) Receives Average Rating of “Moderate Buy” from Brokerages

Dover Co. (NYSE:DOV) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $204.00.

DOV has been the topic of several research reports. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Mizuho increased their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Barclays upped their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd.

Insider Activity

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOV. LRI Investments LLC purchased a new position in Dover in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. increased its stake in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Dover in the 2nd quarter worth $34,000. Transcendent Capital Group LLC increased its stake in shares of Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $184.70 on Friday. Dover has a twelve month low of $127.25 and a twelve month high of $195.68. The company’s 50 day moving average is $186.66 and its 200 day moving average is $182.12. 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 has a market cap of $25.38 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Dover will post 9.18 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given 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 was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. Dover’s dividend payout ratio (DPR) is 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.