Dover (NYSE:DOV) Coverage Initiated at UBS Group

UBS Group initiated coverage on shares of Dover (NYSE:DOV) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a neutral rating and a $217.00 price objective on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Mizuho raised their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.40.

Dover Stock Performance

NYSE:DOV opened at $201.18 on Wednesday. Dover has a 1 year low of $136.50 and a 1 year high of $204.93. The firm’s fifty day simple moving average is $191.53 and its 200 day simple moving average is $184.71. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $27.60 billion, a PE ratio of 17.99, a PEG ratio of 2.74 and a beta of 1.22.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

Insider Activity at Dover

In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,042 shares of company stock valued at $7,368,578 in the last ninety days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Dover

A number of institutional investors have recently modified their holdings of DOV. LRI Investments LLC bought a new position in shares of Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised its stake in shares of Dover by 4,400.0% in the second 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. Ashton Thomas Securities LLC bought a new position in shares of Dover in the third quarter worth about $33,000. Fairscale Capital LLC bought a new position in shares of Dover in the second quarter worth about $34,000. Finally, Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% in the first 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. 84.46% of the stock is owned by institutional investors.

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.