Dover Corporation (NYSE:DOV) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Dover Corporation (NYSE:DOV) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $210.6364.

Several equities research analysts have commented on DOV shares. UBS Group set a $200.00 price target on Dover in a research note on Friday, October 24th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada boosted 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. Morgan Stanley raised their target price on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company reaffirmed a “positive” rating on shares of Dover in a research report on Monday, December 15th.

Dover Price Performance

Dover stock opened at $197.72 on Wednesday. Dover has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The firm has a 50 day moving average price of $187.34 and a 200 day moving average price of $180.75. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.53 and a beta of 1.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Sell-side analysts predict that Dover will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.52 dividend. The ex-dividend date was 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 (DPR) is 12.79%.

Insider Activity

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 stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This trade represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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 company. CTC Alternative Strategies Ltd. bought a new stake in shares of Dover in the third quarter worth $567,000. Allworth Financial LP grew its holdings in Dover by 27.3% during the 3rd quarter. Allworth Financial LP now owns 4,109 shares of the industrial products company’s stock worth $686,000 after acquiring an additional 881 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Dover by 162.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 57,682 shares of the industrial products company’s stock worth $9,623,000 after purchasing an additional 35,745 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Dover by 16.3% in the 3rd quarter. Groupama Asset Managment now owns 10,415 shares of the industrial products company’s stock valued at $1,738,000 after purchasing an additional 1,458 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Dover by 3.7% during the third quarter. CIBC Private Wealth Group LLC now owns 22,757 shares of the industrial products company’s stock worth $3,797,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.