Dover (NYSE:DOV) Reaches New 12-Month High at $151.92


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Dover Co. (NYSE:DOV)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $151.92 and last traded at $151.54, with a volume of 592353 shares trading hands. The stock had previously closed at $149.77.

A number of brokerages have recently issued reports on DOV. Oppenheimer reaffirmed a “hold” rating on shares of Dover in a research note on Wednesday, January 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Dover from $143.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, April 26th. Barclays lifted their target price on shares of Dover from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Dover from $159.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, April 27th. Finally, Citigroup boosted their price objective on shares of Dover from $159.00 to $170.00 in a report on Wednesday, April 21st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $149.91.

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.00 and a current ratio of 1.47. The company has a market cap of $21.81 billion, a P/E ratio of 32.94, a P/E/G ratio of 1.78 and a beta of 1.30. The firm’s fifty day moving average is $140.79 and its two-hundred day moving average is $127.01.

Dover (NYSE:DOV) last issued its earnings results on Monday, April 19th. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.36. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.73 billion. Dover had a net margin of 10.02% and a return on equity of 26.73%. Dover’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, equities research analysts expect that Dover Co. will post 5.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Friday, March 5th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 25th. Dover’s dividend payout ratio (DPR) is currently 33.39%.

In other Dover news, SVP Ivonne M. Cabrera sold 3,617 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $133.00, for a total transaction of $481,061.00. Following the completion of the transaction, the senior vice president now owns 21,454 shares in the company, valued at approximately $2,853,382. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company’s stock.

A number of large investors have recently made changes to their positions in DOV. Concord Wealth Partners purchased a new position in Dover during the 4th quarter worth $26,000. Capital Directions Investment Advisors LLC raised its position in shares of Dover by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 220 shares of the industrial products company’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new position in shares of Dover in the fourth quarter valued at approximately $29,000. Bogart Wealth LLC acquired a new position in shares of Dover in the first quarter valued at approximately $30,000. Finally, Veriti Management LLC acquired a new position in shares of Dover in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.

About Dover (NYSE:DOV)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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